Commit To Buy Penske Automotive Group At $35, Earn 8.7% Annualized Using Options
October 17, 2014 at 11:37 AM EDT
Investors eyeing a purchase of Penske Automotive Group Inc (PAG) shares, but tentative about paying the going market price of $40.01/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the May 2015 put at the $35 strike, which has a bid at the time of this writing of $1.75..
