Commit To Buy Penske Automotive Group At $45, Earn 11% Annualized Using Options
September 03, 2015 at 11:42 AM EDT
Investors considering a purchase of Penske Automotive Group Inc (PAG) stock, but cautious about paying the going market price of $50.27/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the February 2016 put at the $45 strike, which has a bid at the time of this writing of $2.30..