Commit To Purchase Allete At $35, Earn 966.4% Annualized Using Options
May 14, 2024 at 11:32 AM EDT
Investors considering a purchase of Allete Inc (ALE) shares, but cautious about paying the going market price of $62.93/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the May put at the $35 strike, which has a bid at the time of this writing of $2.78..