Commit To Buy Southern Copper Corp At $29, Earn 8.4% Annualized Using Options

Investors considering a purchase of Southern Copper Corp (SCCO) stock, but cautious about paying the going market price of $33.64/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the September put at the $29 strike, which has a bid at the time of this writing of $1.55..