KLAC
KLA · Sep 17, 2026
$169.26
Shares
Hold
Price is 72% above our fair value of $98.59 (range $54.48–$130, 4 of 4 models). Being this far above our estimate has had no bearing on what the shares did next, 2022–2026.
How we value it ›Prices as of 2:48 PM ET, Sep 17. Check the live quote before you send an order.
The put
Skip
Skip the put. It pays a lot because KLAC can drop a lot. Wait, or buy shares.
If it goes against you: you buy 100 shares at $165, which after the $765 you keep works out to $157.35 a share. Below $157.35 you are down on the trade. From that day the shares take above is the one that applies.
The order, if you sell it anyway
You get$765 (limit about $7.65)
If it fallsBuy 100 shares at $165
Cash to hold$16,500
Close earlyBuy back at about $2.29 ($230)
Chance you buy the sharesabout 39 in 100
ContractKLAC Oct 16 $165 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why skip
The put: Oct 16, $165 strike, 29 days out. Pays $765. Roughly a 39-in-100 chance you end up buying the shares.
On paper: 58% a year. That number assumes KLAC keeps moving like it did the past two years. Take that away and it is -2% a year. That is why we say skip.
Next earnings Oct 28, after this put ends. We never sell a put across a report.
If you already own 100 shares
Income call
For income on KLAC you already hold: sell the Oct 16 $200 call and take $212 now. If KLAC climbs to $200 by Oct 16, your 100 shares are sold at $200, so only do it if you're happy selling there.
If it climbs past $200 your 100 shares are sold at $200 and you keep the $212. That is the trade working, not a loss.
The call order
ActionSell to open
ContractKLAC Oct 16 $200 call
You get$212 (limit about $2.12)
If it climbsYour 100 shares sell at $200
Chance your shares are soldabout 16 in 100
After removing the trend-8% a year
First take on KLAC. 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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