LUNR January 2026 Options Begin Trading

Intuitive Machines (LUNR) is highlighted as a candidate for income strategies: selling the Jan 2026 $11.50 put (bid $1.71) would set an effective purchase price of $9.79 vs. the current $11.82, is ~3% out‑of‑the‑money with a 62% chance of expiring worthless and would yield 14.87% on cash committed (108.55% annualized) if it does. Alternatively, selling a covered call at the $12.00 strike (bid $1.77) would cap upside at $12 but deliver a 16.50% total return if called and a 14.97% premium boost (109.31% annualized) with a 42% probability of expiring worthless. Implied volatilities are elevated (put IV 125%, call IV 115%) versus trailing 12‑month volatility of 103%, indicating rich option premiums; Stock Options Channel will track and chart the odds and contract history.

Analysis

The Jan 2026 $11.50 put on Intuitive Machines (LUNR) carries a $1.71 bid which would set an effective purchase price of $9.79 vs the current $11.82 share price; the contract is ~3% out-of-the-money and analytics assign a 62% chance it will expire worthless. If the put expires worthless the premium equates to a 14.87% return on the cash commitment (108.55% annualized), making it an income-for-entry alternative for investors willing to take assignment at $11.50.

The Jan 2026 $12.00 covered call shows a $1.77 bid; selling it while holding LUNR at $11.82 would cap sale proceeds at $12 and deliver a 16.50% total return if called, while the premium alone is a 14.97% boost (109.31% annualized). The covered-call route preserves immediate yield but risks leaving substantial upside on the table if shares rally beyond $12.

Implied volatilities are elevated (put IV 125%, call IV 115%) versus trailing 12-month volatility of 103%, indicating rich option premiums and elevated expected price movement. These dynamics increase premium income potential but also underscore assignment risk and sensitivity to IV compression; Stock Options Channel will track odds and contract history, so monitor those metrics and be prepared to roll or hedge ahead of the Jan 2026 expiration.

Key Decisions for Investors

• Consider selling the Jan 2026 $11.50 put to potentially acquire LUNR at an effective $9.79 if you are comfortable owning the shares and accepting a 62% chance the contract expires worthless
• If already long LUNR, consider selling the Jan 2026 $12.00 covered call to capture a 14.97% premium boost and a 16.50% capped total return if called, recognizing you will forfeit upside above $12
• Actively monitor implied volatility (125%/115% vs realized 103%), the changing odds tracked by Stock Options Channel, and be prepared to roll, hedge or close positions if IV compresses or the stock moves materially before Jan 2026