Subject: Re: Getting complicated
The stock price now is ~470 so I am going to compare the June '26 $500 put with the buy-write of the $500 call.

$500 Put: ~$39. Net cost = 500 - 39 = $461

$500 Call: ~25. Net cost = 470 - 25 = $445

If the stock price is below $500 at expiration, you own the stock at the above net prices.

If the stock is above $500 at expiration, the Put earns you a bit more premium plus interest on the $461.

I left out: if the stock is above $500 at expiration, the Call earns 500 - 470 + 25 = $55.

The Put earns 39 + ~3% x 461 = $53.

Is there any scenario in which the Put is superior to the buy-write Call?