Agree To Purchase Advance Auto Parts At $135, Earn 12.3% Annualized Using Options

Investors eyeing a purchase of Advance Auto Parts Inc (AAP) shares, but tentative about paying the going market price of $142.43/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the March 2017 put at the $135 strike, which has a bid at the time of this writing of $6.80..