HUM
Humana · Sep 17, 2026
$385.41
Shares
Hold
Fair value $348; the price is close to it, 11% over (range $259–$483, 4 of 4 models).
How we value it ›Prices as of 2:48 PM ET, Sep 17. Check the live quote before you send an order.
The put
Sell
Sell the Oct 16 $380 put. You get $2,445 now. In return you must buy 100 shares at $380 if HUM falls there by Oct 16.
If it goes against you: you buy 100 shares at $380, which after the $2,445 you keep works out to $355.55 a share. Below $355.55 you are down on the trade. From that day the shares take above is the one that applies.
The order
You get$2,445 (limit about $24.45)
If it fallsBuy 100 shares at $380
Cash to hold$38,000
Close earlyBuy back at about $22.00 ($2,200)
Chance you buy the sharesabout 43 in 100
ContractHUM Oct 16 $380 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why sell
The put: Oct 16, $380 strike, 29 days out. Pays $2,445. Roughly a 43-in-100 chance you end up buying the shares.
On paper: 81% a year. That number assumes HUM keeps moving like it did the past two years. Take that away and it is +12% a year. That is why we say sell.
Next earnings Nov 6, after this put ends. We never sell a put across a report.
If you already own 100 shares
Income call
For income on HUM you already hold: sell the Oct 16 $460 call and take $645 now. If HUM climbs to $460 by Oct 16, your 100 shares are sold at $460, so only do it if you're happy selling there.
If it climbs past $460 your 100 shares are sold at $460 and you keep the $645. That is the trade working, not a loss.
The call order
ActionSell to open
ContractHUM Oct 16 $460 call
You get$645 (limit about $6.45)
If it climbsYour 100 shares sell at $460
Chance your shares are soldabout 19 in 100
After removing the trend-3% a year
First take on HUM. Result Oct 16. See the record
Everyone sees the same card. It is not advice for you personally. You can lose more than you collect.
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