Commit To Buy Credit Acceptance At $170, Earn 8% Annualized Using Options
June 06, 2017 at 11:39 AM EDT
Investors eyeing a purchase of Credit Acceptance Corp (CACC) shares, but tentative about paying the going market price of $219.46/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2018 put at the $170 strike, which has a bid at the time of this writing of $8.50..