Commit To Buy Credit Acceptance At $160, Earn 14.8% Annualized Using Options
May 04, 2016 at 11:48 AM EDT
Investors eyeing a purchase of Credit Acceptance Corp (CACC) stock, but tentative about paying the going market price of $184.00/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the October put at the $160 strike, which has a bid at the time of this writing of $11.00..