CHDN240517P00120000 Option on Churchill Downs
| CHDN Stock | USD 134.02 0.91 0.68% |
Churchill Downs' option chain provides insight into all available option contracts written on Churchill Downs' stock. Investors can see outstanding put and call contracts with pricing information and greeks for a given expiration period. In addition, each of Churchill Downs' 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 Churchill option contract.
In The Money vs. Out of Money Option Contracts on Churchill Downs
Analyzing Churchill Downs' in-the-money options over time can help investors to take a profitable long position in Churchill Downs regardless of its overall volatility. This is especially true when Churchill Downs' options are deep in the money. These options can be identified using deltas that are over 0.75. Deep in-the-money Churchill Downs' options could be used as guardians of the underlying stock as they move almost dollar for dollar with Churchill Downs' stock while costing only a fraction of its price.
Churchill Downs' latest option contracts expiring on 2024-05-17 are carrying combined implied volatility of 26.62 with a put-to-call open interest ratio of 0.67 over 50 outstanding agreements suggesting investors are buying more calls than puts on contracts expiring on 2024-05-17. The current put volume is at 21, with calls trading at the volume of 60. This yields a 0.35 put-to-call volume ratio. The Churchill Downs option chain provides detailed quote and price information for the current Churchill Downs Incorporated option contracts. It shows all of Churchill Downs' listed puts, calls, expiration dates, strike prices, and other pricing information.
Open Interest Against 2024-05-17 Option Contracts
Churchill Downs 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 Churchill Downs' lending market. For example, when Churchill Downs' 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 Churchill Downs, he or she must hedge the risk by shorting Churchill Downs stock over its option's life.
2024-05-17
The chart above shows Churchill Downs' 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. Churchill Downs' open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for Churchill Downs' option, there is no secondary market available for investors to trade.
Churchill Downs Maximum Pain Price across 2024-05-17 Option Contracts
Max pain usually refers to a trading concept that asserts that market manipulation can cause the market price of particular securities such as Churchill Downs close to expiration to expire worthless. According to most research, approximately 10% to 15% of all stock options are exercised, while about 35% expire worthlessly, with roughly 50% traded out before the expiration date. So, Max pain occurs when market makers reach a net positive position across all options at a strike price where option holders stand to lose the most money. By contrast, option sellers may reap the most after selling more options than buying, causing them to expire worthless.
Churchill Downs' stock options are financial instruments that give investors the right to buy or sell shares of Churchill Downs common stock at a specified price for a given time period. Generally speaking, an option to purchase or sell Churchill stock makes it part of the underlying stock when the option's price is tied to the movement of the underlying stock. If Churchill Downs' 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 Churchill Downs Incorporated. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. Please note that buying 'in-the-money' options on Churchill Downs lessens the impact of time decay, as they carry both intrinsic and time value. So, even if Churchill Downs' 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 Churchill Downs 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 Churchill Stock moves the wrong way.
At this time, Churchill Downs' Total Stockholder Equity is very stable compared to the past year. As of the 5th of May 2024, Common Stock Shares Outstanding is likely to grow to about 86 M, though Other Stockholder Equity is likely to grow to (983.2 K). Churchill Downs In The Money Call Balance
When Churchill Downs' strike price is surpassing the current stock price, the option contract against Churchill Downs Incorporated stock is said to be in the money. When it comes to buying Churchill Downs' 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 Churchill Downs Incorporated 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.
Churchill Current Options Market Mood
Churchill Downs' 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 Churchill 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 Churchill Downs' calls and puts, are not very successful. It is estimated that an average options trader loses somewhere between 80% to 90% of the time. Churchill Downs' 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 Churchill Downs' 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 Churchill contract
Base on the Rule 16, the options market is currently suggesting that Churchill Downs Incorporated will have an average daily up or down price movement of about 1.66% per day over the life of the 2024-05-17 option contract. With Churchill Downs trading at USD 134.02, that is roughly USD 2.23. If you think that the market is fully incorporating Churchill Downs' daily price movement you should consider buying Churchill Downs Incorporated options at the current volatility level of 26.62%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Churchill |
Purchasing Churchill Downs 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" Churchill calls. Remember, the seller must deliver Churchill Downs Incorporated stock to the call owner when a call is exercised.
Churchill Downs Option Chain
When Churchill Downs' strike price is surpassing the current stock price, the option contract against Churchill Downs Incorporated 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.
Churchill Downs' option chain is a display of a range of information that helps investors for ways to trade options on Churchill. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for Churchill. It also shows strike prices and maturity days for a Churchill Downs 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 $60.0 | 0.9487 | 0.0013 | 0 | 2024-05-17 | 71.5 - 76.3 | 0.0 | In |
Call | 2024-05-17 CALL at $65.0 | 0.9438 | 0.0015 | 0 | 2024-05-17 | 66.5 - 71.3 | 0.0 | In |
Call | 2024-05-17 CALL at $70.0 | 0.9369 | 0.0018 | 0 | 2024-05-17 | 61.5 - 66.4 | 0.0 | In |
Call | 2024-05-17 CALL at $75.0 | 0.9344 | 0.0021 | 0 | 2024-05-17 | 56.5 - 61.2 | 0.0 | In |
Call | 2024-05-17 CALL at $80.0 | 0.9262 | 0.0025 | 0 | 2024-05-17 | 51.5 - 56.3 | 0.0 | In |
Call | 2024-05-17 CALL at $85.0 | 0.919 | 0.003 | 0 | 2024-05-17 | 46.5 - 51.3 | 0.0 | In |
Call | 2024-05-17 CALL at $90.0 | 0.913 | 0.0035 | 0 | 2024-05-17 | 41.5 - 46.2 | 0.0 | In |
Call | 2024-05-17 CALL at $95.0 | 0.9013 | 0.0043 | 0 | 2024-05-17 | 36.5 - 41.3 | 0.0 | In |
Call | 2024-05-17 CALL at $100.0 | 0.8875 | 0.0052 | 0 | 2024-05-17 | 31.5 - 36.4 | 0.0 | In |
Call | 2024-05-17 CALL at $105.0 | 0.8738 | 0.0065 | 0 | 2024-05-17 | 26.5 - 31.4 | 0.0 | In |
Call | 2024-05-17 CALL at $110.0 | 0.8537 | 0.0081 | 0 | 2024-05-17 | 21.6 - 26.5 | 0.0 | In |
Call | 2024-05-17 CALL at $115.0 | 0.9819 | 0.0044 | 0 | 2024-05-17 | 17.0 - 21.5 | 0.0 | In |
Call | 2024-05-17 CALL at $120.0 | 0.9573 | 0.0102 | 11 | 2024-05-17 | 12.1 - 16.6 | 11.0 | In |
Call | 2024-05-17 CALL at $125.0 | 0.806 | 0.0236 | 1549 | 2024-05-17 | 8.6 - 10.5 | 8.8 | In |
Call | 2024-05-17 CALL at $130.0 | 0.8004 | 0.0538 | 221 | 2024-05-17 | 2.8 - 6.8 | 4.7 | In |
Call | 2024-05-17 CALL at $135.0 | 0.4523 | 0.0714 | 45 | 2024-05-17 | 1.55 - 2.15 | 2.45 | Out |
Call | 2024-05-17 CALL at $140.0 | 0.1983 | 0.043 | 34 | 2024-05-17 | 0.35 - 1.55 | 0.7 | Out |
Put | 2024-05-17 PUT at $125.0 | -0.1194 | 0.024 | 24 | 2024-05-17 | 0.1 - 0.85 | 0.5 | Out |
Put | 2024-05-17 PUT at $130.0 | -0.2399 | 0.05 | 1 | 2024-05-17 | 0.7 - 0.95 | 0.9 | Out |
Put | 2024-05-17 PUT at $135.0 | -0.5501 | 0.0703 | 19 | 2024-05-17 | 2.4 - 3.0 | 3.01 | In |
Put | 2024-05-17 PUT at $140.0 | -0.8734 | 0.0418 | 0 | 2024-05-17 | 4.6 - 7.8 | 0.0 | In |
Put | 2024-05-17 PUT at $145.0 | -0.9107 | 0.0212 | 0 | 2024-05-17 | 8.9 - 13.5 | 0.0 | In |
Put | 2024-05-17 PUT at $150.0 | -0.9207 | 0.0142 | 0 | 2024-05-17 | 14.0 - 18.5 | 0.0 | In |
Put | 2024-05-17 PUT at $155.0 | -0.9321 | 0.0269 | 0 | 2024-05-17 | 19.0 - 23.5 | 0.0 | In |
Put | 2024-05-17 PUT at $160.0 | -0.9612 | 0.0064 | 0 | 2024-05-17 | 23.7 - 28.5 | 0.0 | In |
Put | 2024-05-17 PUT at $165.0 | -0.965 | 0.0052 | 0 | 2024-05-17 | 28.7 - 33.5 | 0.0 | In |
Put | 2024-05-17 PUT at $170.0 | -0.9678 | 0.0043 | 0 | 2024-05-17 | 33.7 - 38.5 | 0.0 | In |
Put | 2024-05-17 PUT at $175.0 | -0.9701 | 0.0037 | 0 | 2024-05-17 | 38.7 - 43.5 | 0.0 | In |
Put | 2024-05-17 PUT at $180.0 | -0.9729 | 0.0031 | 0 | 2024-05-17 | 43.7 - 48.5 | 0.0 | In |
Churchill Downs 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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Churchill Downs 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 |
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Churchill Total Stockholder Equity
Total Stockholder Equity |
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Churchill Downs Corporate Executives
Elected by the shareholders, the Churchill Downs' board of directors comprises two types of representatives: Churchill Downs inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Churchill. The board's role is to monitor Churchill Downs' management team and ensure that shareholders' interests are well served. Churchill Downs' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Churchill Downs' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Marcia CPA | Executive CFO | Profile | |
| Nate Simon | Senior CTO | Profile |
Already Invested in Churchill Downs Incorporated?
The danger of trading Churchill Downs Incorporated 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 Churchill Downs 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 Churchill Downs. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Churchill Downs 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 Churchill Downs offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Churchill Downs' 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 Churchill Downs Incorporated Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Churchill Downs Incorporated Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Churchill Downs Incorporated. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. Note that the Churchill Downs information on this page should be used as a complementary analysis to other Churchill Downs' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
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When running Churchill Downs' price analysis, check to measure Churchill Downs' 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 Churchill Downs is operating at the current time. Most of Churchill Downs' value examination focuses on studying past and present price action to predict the probability of Churchill Downs' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Churchill Downs' price. Additionally, you may evaluate how the addition of Churchill Downs to your portfolios can decrease your overall portfolio volatility.
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Is Churchill Downs' 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 Churchill Downs. If investors know Churchill 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 Churchill Downs 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 (0.47) | Dividend Share 0.382 | Earnings Share 4.52 | Revenue Per Share 33.286 | Quarterly Revenue Growth 0.056 |
The market value of Churchill Downs is measured differently than its book value, which is the value of Churchill that is recorded on the company's balance sheet. Investors also form their own opinion of Churchill Downs' value that differs from its market value or its book value, called intrinsic value, which is Churchill Downs' 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 Churchill Downs' market value can be influenced by many factors that don't directly affect Churchill Downs' 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 Churchill Downs' value and its price as these two are different measures arrived at by different means. Investors typically determine if Churchill Downs is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Churchill Downs' 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.