Commit To Buy Cray At $30, Earn 19.8% Annualized Using Options

Investors eyeing a purchase of Cray Inc (CRAY) stock, but cautious about paying the going market price of $35.14/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the July put at the $30 strike, which has a bid at the time of this writing of $2.55..