2024-05-17 PUT at $16.0 Option on Century Aluminum
| CENX Stock | USD 17.43 0.62 3.69% |
2024-05-17 PUT at $16.0 is a PUT option contract on Century Aluminum's common stock with a strick price of 16.0 expiring on 2024-05-17. The contract was last traded on 2024-05-03 at 13:29:22 for $0.42 and, as of today, has 11 days remaining before the expiration. The option is currently trading at a bid price of $0.35, and an ask price of $0.4. The implied volatility as of the 6th of May is 57.99.
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.
Century |
A put option written on Century Aluminum becomes more valuable as the price of Century Aluminum drops. Conversely, Century Aluminum's put option loses its value as Century Stock rises. When exercised, put options on Century Aluminum produce a short position in Century Stock. Because of this protective nature, they are typically used either for hedging purposes or to capitalize on Century Aluminum's downside price movement.
Rule 16 of 2024-05-17 Option Contract
The options market is anticipating that Century Aluminum will have an average daily up or down price movement of about 3.62% per day over the life of the option. With Century Aluminum trading at USD 17.43, that is roughly USD 0.63. If you think that the market is fully understating Century Aluminum's daily price movement you should consider buying Century Aluminum options at that current volatility level of 57.99%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Out Of The Money Put Option on Century Aluminum
An 'Out of The Money' option on Century has a strike price that Century Stock has yet to reach, meaning the option has no intrinsic value. 'Out of The Money' options are usually less costly than 'In The Money' options, making them more desirable to traders with smaller amounts of capital. Some of the uses for Century Aluminum's 'Out of The Money' options include buying the options if you expect a big move in Century Aluminum's stock. Since 'Out of The Money' options have a lower up-front cost (i.e., no intrinsic value) than 'In The Money' options, buying it is a reasonable choice.
| Put Contract Name | 2024-05-17 PUT at $16.0 |
| Expires On | 2024-05-17 |
| Days Before Expriration | 11 |
| Last Traded On | 2024-05-03 13:29:22 |
| Contract Period | MONTHLY |
| Open Interest | 84 |
| Current Trading Volume | 16.0 |
| Strike Price | 16.0 |
| Last Traded At | 0.42 |
| Current Price Spread | 0.35 | 0.4 |
| Rule 16 Daily Up or Down | USD0.63 |
Century short PUT Option Greeks
Century Aluminum's Option Greeks for the contract ending on 2024-05-17 at a strike price of 16.0 measures the various factors that affect its cost and calculated using a theoretical options pricing model. It helps investors make more informed decisions about whether to trade this option contract or when to trade it. In addition to Century Aluminum's option greeks, its implied volatility helps estimate the risk of Century Aluminum stock implied by the prices of the options on Century Aluminum's stock.
| Delta | -0.3023 | |
| Gamma | 0.1899 | |
| Theta | -0.0241 | |
| Vega | 0.0111 | |
| Rho | -0.0017 |
Century long PUT Option Payoff at expiration
Put options written on Century Aluminum grant holders of the option the right to sell a specified amount of Century Aluminum at a specified price within a specified time frame. The put buyer has a limited loss and, while not fully unlimited gains, as the price of Century Stock cannot fall below zero, the put buyer does gain as the price drops. So, purchasing a put option on Century Aluminum is like buying insurance aginst Century Aluminum's downside shift.
Profit |
| Century Aluminum Price At Expiration |
Century short PUT Option Payoff at expiration
By selling Century Aluminum's put option, the investors signal their bearish sentiment. A short position in a put option written on Century Aluminum will generally make money when the underlying price is above the strike price. Therefore Century Aluminum's put payoff at expiration depends on where the Century Stock price is relative to the put option strike price. The breakeven price of 15.63 is the critical point that divides the payoff function into two parts. Below the breakeven price, the payoff is dropping and negative (the seller makes a loss). Above the breakeven price, the payoff line is upward sloping as the option payoff increases in proportion to Century Aluminum's price. Finally, at the strike price of 16.0, the payoff chart is constant and positive.
Profit |
| Century Aluminum Price At Expiration |
Century Aluminum Available Put Options
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 | |||
Put | 2024-05-17 PUT at $14.0 | -0.0749 | 0.0627 | 563 | 2024-05-17 | 0.05 - 2.15 | 0.08 | Out |
Put | 2024-05-17 PUT at $15.0 | -0.144 | 0.1177 | 200 | 2024-05-17 | 0.1 - 0.2 | 0.29 | Out |
Put | 2024-05-17 PUT at $16.0 | -0.3023 | 0.1899 | 84 | 2024-05-17 | 0.35 - 0.4 | 0.42 | Out |
Put | 2024-05-17 PUT at $17.0 | -0.5169 | 0.2246 | 104 | 2024-05-17 | 0.75 - 0.85 | 1.05 | In |
Put | 2024-05-17 PUT at $18.0 | -0.7067 | 0.1827 | 470 | 2024-05-17 | 1.45 - 1.55 | 2.54 | In |
Put | 2024-05-17 PUT at $19.0 | -0.8421 | 0.1256 | 22 | 2024-05-17 | 2.25 - 2.4 | 2.75 | In |
Put | 2024-05-17 PUT at $20.0 | -0.8327 | 0.0906 | 1 | 2024-05-17 | 1.3 - 3.4 | 3.7 | In |
Put | 2024-05-17 PUT at $21.0 | -0.8965 | 0.0653 | 0 | 2024-05-17 | 2.55 - 4.3 | 0.0 | In |
Put | 2024-05-17 PUT at $22.0 | -0.9067 | 0.0527 | 2 | 2024-05-17 | 3.1 - 5.3 | 5.2 | In |
Put | 2024-05-17 PUT at $23.0 | -0.9147 | 0.044 | 0 | 2024-05-17 | 4.4 - 6.3 | 0.0 | In |
Put | 2024-05-17 PUT at $25.0 | -0.8893 | 0.0389 | 0 | 2024-05-17 | 6.6 - 8.4 | 0.0 | In |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Century Aluminum without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Portfolio Volatility Now
Portfolio VolatilityCheck portfolio volatility and analyze historical return density to properly model market risk |
| All Next | Launch Module |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for Century Stock analysis
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.
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |
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 2.21 | 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.