The Latest Breaking News from Schwab

Shorting out-of-the-money (OTM) puts in Charles Schwab stock still makes sense. It allows investors who are long in the stock to make extra income as well as lower their average buy-in cost.

One of the online broker’s put options had a volume of 15,344 on Wednesday, 108.82x its open interest. I can think of at least three reasons why that’s the case.

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Investors who have shorted out-of-the-money puts in Charles Schwab stock have been making good money. SCHW stock is still cheap based on earnings, making this a good play for investors.

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The winner of the Charles Schwab Challenge receives a $1.566 million check, a big trophy and 500 points toward their season’s FedEx Cup total.

Yesterday, with SCHW trading at 55.55, the May put option with a strike price of 52.50 was trading around $1.20. Traders selling this put would receive $120 in option premium. In return for receiving this premium, they have an obligation to buy 100 shares of SCHW for $52.50.

Charles Schwab stock has tumbled 11% in the last month, making its put options very popular with investors who are shorting near-term out-of-the-money puts in an attractive income play.

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