CENX240517P00015000 Option on Century Aluminum
| CENX Stock | USD 17.40 0.59 3.51% |
Century Aluminum's option chain provides insight into all available option contracts written on Century Aluminum's stock. Investors can see outstanding put and call contracts with pricing information and greeks for a given expiration period. In addition, each of Century Aluminum's stock options below provides a detailed picture of the payoff. Comparing vital and dynamic information of various option contracts across diverse expiration periods will help you make an educated decision on your market timing strategies around investing in a given Century option contract.
In The Money vs. Out of Money Option Contracts on Century Aluminum
Analyzing Century Aluminum's in-the-money options over time can help investors to take a profitable long position in Century Aluminum regardless of its overall volatility. This is especially true when Century Aluminum's options are deep in the money. These options can be identified using deltas that are over 0.75. Deep in-the-money Century Aluminum's options could be used as guardians of the underlying stock as they move almost dollar for dollar with Century Aluminum's stock while costing only a fraction of its price.
Century Aluminum's latest option contracts expiring on 2024-05-17 are carrying combined implied volatility of 66.18 with a put-to-call open interest ratio of 1.15 over 44 outstanding agreements suggesting investors are buying more puts than calls on contracts expiring on 2024-05-17. The current put volume is at 5, with calls trading at the volume of 84. This yields a 0.06 put-to-call volume ratio. The Century Aluminum option chain provides detailed quote and price information for the current Century Aluminum option contracts. It shows all of Century Aluminum's listed puts, calls, expiration dates, strike prices, and other pricing information.
Open Interest Against 2024-05-17 Option Contracts
Century Aluminum option prices can potentially be used to forecast stock returns because most option chains provide information not only about the current prices but also about the future conditions in Century Aluminum's lending market. For example, when Century Aluminum's puts are not actively trading or completely missing in the marketplace, investors can use it to internalize expected shorting costs. So if an investor is writing a put option on Century Aluminum, he or she must hedge the risk by shorting Century Aluminum stock over its option's life.
2024-05-17
The chart above shows Century Aluminum's distribution of open interest by maturity on contracts that have not yet been settled. The area between the two highest points is the projection of the price at expiration. Century Aluminum's open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for Century Aluminum's option, there is no secondary market available for investors to trade.
Century Aluminum's stock options are financial instruments that give investors the right to buy or sell shares of Century Aluminum common stock at a specified price for a given time period. Generally speaking, an option to purchase or sell Century stock makes it part of the underlying stock when the option's price is tied to the movement of the underlying stock. If Century Aluminum's stock price goes up or down, the stock options follow.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Century Aluminum. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Please note that buying 'in-the-money' options on Century Aluminum lessens the impact of time decay, as they carry both intrinsic and time value. So, even if Century Aluminum's value remains static through the expiration date, the investor can sell to close an 'in-the-money' option to avoid a potential loss. However, in-the-money Century Aluminum contracts are usually more expensive to enter than their out-of-the-money counterparts. So keep in mind that while the payoffs on an in-the-money trade can be high, the investors could ultimately experience a more consequential loss if Century Stock moves the wrong way.
At this time, Century Aluminum's Total Stockholder Equity is fairly stable compared to the past year. Stock Based Compensation is likely to rise to about 6.9 M in 2024, whereas Common Stock Shares Outstanding is likely to drop slightly above 65.7 M in 2024. Century Aluminum In The Money Call Balance
When Century Aluminum's strike price is surpassing the current stock price, the option contract against Century Aluminum stock is said to be in the money. When it comes to buying Century Aluminum's options that are 'In the Money' or 'Out of the Money', the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
While 'out-of-the-money' option contracts written on Century Aluminum are typically viewed as the more aggressive, there are potential upsides to purchasing these types of options contracts. For one, the cost to buy an 'Out of the Money' option is lower than the cost to buy an 'In the Money' option. This cost-benefit is due to the fact that at the time of the purchase, 'Out of the Money' contracts have no intrinsic value. So, while the potential for a 100% loss is more significant, the cost and risk to enter the trade are lower.
Century Current Options Market Mood
Century Aluminum's open interest and total value indicators provide investors with the necessary information to digest the overall options buildup for its expiring contracts. In addition, it helps Century Stock's traders understand whether a recent fall or rise in the market is unreasonable and if the time has come to take contrarian positions. These ratios are calculated based on options trading volumes and current open interest.
Put-to-Call Open Interest
Put-to-Call Volume
Most options investors, including buyers and sellers of Century Aluminum's calls and puts, are not very successful. It is estimated that an average options trader loses somewhere between 80% to 90% of the time. Century Aluminum's option open interest and volume spread between outstanding puts and calls are regarded by many investors as reliable indicators of the overall future market direction. Using current Century Aluminum's option volume and open interest to make an investment decision is considered a contrarian-sentiment measure that can be utilized in many timing strategies in both derivative and spot marketplace.
Rule 16 of the current Century contract
Base on the Rule 16, the options market is currently suggesting that Century Aluminum will have an average daily up or down price movement of about 4.14% per day over the life of the 2024-05-17 option contract. With Century Aluminum trading at USD 17.4, that is roughly USD 0.72. If you think that the market is fully incorporating Century Aluminum's daily price movement you should consider buying Century Aluminum options at the current volatility level of 66.18%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Century |
Purchasing Century Aluminum options can give investors a meaningful hedge against losses and, therefore, could be used conservatively to decrease the volatility of your portfolio. However, many options could also amount to little more than gambling, significantly enhancing your overall portfolio risk. One simple example of these aggressive strategies is the sale of "uncovered" Century calls. Remember, the seller must deliver Century Aluminum stock to the call owner when a call is exercised.
Century Aluminum Option Chain
When Century Aluminum's strike price is surpassing the current stock price, the option contract against Century Aluminum stock is said to be in the money. When it comes to buying options that are ITM or OTM, the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
Century Aluminum's option chain is a display of a range of information that helps investors for ways to trade options on Century. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for Century. It also shows strike prices and maturity days for a Century Aluminum against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone. | Delta | Gamma | Open Int | Expiration | Current Spread | Last Price | |||
Call | 2024-05-17 CALL at $3.0 | 0.9882 | 0.0018 | 0 | 2024-05-17 | 12.7 - 16.3 | 0.0 | In |
Call | 2024-05-17 CALL at $4.0 | 0.9638 | 0.0036 | 0 | 2024-05-17 | 12.6 - 15.3 | 0.0 | In |
Call | 2024-05-17 CALL at $5.0 | 0.944 | 0.0036 | 0 | 2024-05-17 | 10.5 - 14.3 | 0.0 | In |
Call | 2024-05-17 CALL at $6.0 | 0.9426 | 0.0067 | 0 | 2024-05-17 | 10.8 - 13.3 | 0.0 | In |
Call | 2024-05-17 CALL at $7.0 | 0.9768 | 0.0059 | 1 | 2024-05-17 | 8.7 - 12.3 | 8.55 | In |
Call | 2024-05-17 CALL at $8.0 | 0.9734 | 0.0077 | 0 | 2024-05-17 | 7.7 - 11.3 | 0.0 | In |
Call | 2024-05-17 CALL at $9.0 | 0.8767 | 0.0117 | 0 | 2024-05-17 | 6.6 - 10.2 | 8.6 | In |
Call | 2024-05-17 CALL at $10.0 | 0.8573 | 0.0146 | 0 | 2024-05-17 | 5.6 - 9.2 | 6.0 | In |
Call | 2024-05-17 CALL at $11.0 | 0.977 | 0.0127 | 2 | 2024-05-17 | 4.6 - 8.3 | 7.06 | In |
Call | 2024-05-17 CALL at $12.0 | 0.9377 | 0.0265 | 10 | 2024-05-17 | 3.6 - 7.5 | 6.23 | In |
Call | 2024-05-17 CALL at $13.0 | 0.8989 | 0.0398 | 37 | 2024-05-17 | 2.9 - 6.4 | 5.1 | In |
Call | 2024-05-17 CALL at $14.0 | 0.9102 | 0.0534 | 33 | 2024-05-17 | 1.6 - 5.5 | 2.0 | In |
Call | 2024-05-17 CALL at $15.0 | 0.7834 | 0.0759 | 210 | 2024-05-17 | 1.4 - 2.95 | 2.25 | In |
Call | 2024-05-17 CALL at $16.0 | 0.7642 | 0.1364 | 122 | 2024-05-17 | 0.25 - 1.9 | 1.75 | In |
Call | 2024-05-17 CALL at $17.0 | 0.6172 | 0.2244 | 243 | 2024-05-17 | 0.85 - 0.95 | 1.02 | In |
Call | 2024-05-17 CALL at $18.0 | 0.3899 | 0.2215 | 77 | 2024-05-17 | 0.4 - 0.5 | 0.55 | Out |
Call | 2024-05-17 CALL at $19.0 | 0.22 | 0.1616 | 191 | 2024-05-17 | 0.15 - 0.25 | 0.22 | Out |
Call | 2024-05-17 CALL at $20.0 | 0.1132 | 0.1009 | 241 | 2024-05-17 | 0.05 - 0.1 | 0.1 | Out |
Call | 2024-05-17 CALL at $21.0 | 0.068 | 0.0626 | 181 | 2024-05-17 | 0.0 - 0.1 | 0.06 | Out |
Put | 2024-05-17 PUT at $16.0 | -0.2109 | 0.146 | 87 | 2024-05-17 | 0.15 - 0.25 | 0.25 | Out |
Put | 2024-05-17 PUT at $17.0 | -0.3825 | 0.227 | 95 | 2024-05-17 | 0.45 - 0.5 | 0.42 | Out |
Put | 2024-05-17 PUT at $18.0 | -0.6126 | 0.2239 | 470 | 2024-05-17 | 1.0 - 1.05 | 1.21 | In |
Put | 2024-05-17 PUT at $19.0 | -0.9255 | 0.1362 | 22 | 2024-05-17 | 1.4 - 1.85 | 2.75 | In |
Put | 2024-05-17 PUT at $20.0 | -0.7685 | 0.1037 | 1 | 2024-05-17 | 1.2 - 4.7 | 3.7 | In |
Put | 2024-05-17 PUT at $21.0 | -0.8965 | 0.0739 | 0 | 2024-05-17 | 1.7 - 5.7 | 0.0 | In |
Put | 2024-05-17 PUT at $22.0 | -0.5928 | 0.0457 | 2 | 2024-05-17 | 2.55 - 6.5 | 5.2 | In |
Put | 2024-05-17 PUT at $23.0 | -0.8581 | 0.0553 | 0 | 2024-05-17 | 4.1 - 7.6 | 0.0 | In |
Put | 2024-05-17 PUT at $25.0 | -0.6489 | 0.0388 | 0 | 2024-05-17 | 5.5 - 9.3 | 0.0 | In |
Century Aluminum Total Stockholder Equity Over Time
The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders. Total Stockholder Equity |
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Century Aluminum Common Stock Shares Outstanding Over Time
The total number of shares of a company's common stock that are currently owned by all its shareholders. Common Stock Shares Outstanding |
| Timeline |
Century Total Stockholder Equity
Total Stockholder Equity |
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Century Aluminum Corporate Management
Elected by the shareholders, the Century Aluminum's board of directors comprises two types of representatives: Century Aluminum inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Century. The board's role is to monitor Century Aluminum's management team and ensure that shareholders' interests are well served. Century Aluminum's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Century Aluminum's outside directors are responsible for providing unbiased perspectives on the board's policies.
| John DeZee | General VP | Profile | |
| Kenneth Calloway | Senior Resources | Profile | |
| Matthew Aboud | Senior Development | Profile | |
| Ryan Crawford | Financial Manager | Profile | |
| Theresa Brainerd | Global Controller | Profile | |
| Agust Hafberg | Senior Officer | Profile | |
| CPA BA | Sr Treasurer | Profile |
Already Invested in Century Aluminum?
The danger of trading Century Aluminum is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Century Aluminum is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Century Aluminum. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Century Aluminum is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Century Aluminum offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Century Aluminum's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Century Aluminum Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Century Aluminum Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Century Aluminum. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Century Stock please use our How to Invest in Century Aluminum guide.You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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When running Century Aluminum's price analysis, check to measure Century Aluminum's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Century Aluminum is operating at the current time. Most of Century Aluminum's value examination focuses on studying past and present price action to predict the probability of Century Aluminum's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Century Aluminum's price. Additionally, you may evaluate how the addition of Century Aluminum to your portfolios can decrease your overall portfolio volatility.
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Is Century Aluminum's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Century Aluminum. If investors know Century will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Century Aluminum listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.80) | Earnings Share 2.29 | Revenue Per Share 22.946 | Quarterly Revenue Growth (0.11) | Return On Assets (0.0001) |
The market value of Century Aluminum is measured differently than its book value, which is the value of Century that is recorded on the company's balance sheet. Investors also form their own opinion of Century Aluminum's value that differs from its market value or its book value, called intrinsic value, which is Century Aluminum's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Century Aluminum's market value can be influenced by many factors that don't directly affect Century Aluminum's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Century Aluminum's value and its price as these two are different measures arrived at by different means. Investors typically determine if Century Aluminum is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Century Aluminum's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.