Just noticed some interesting option plays that expired on NEE back on April 24th - worth breaking down for anyone learning options strategies. The put contract at the $90 strike caught my attention because it was offering $2.30 in premium. If you had sold that put to open, you'd essentially be committing to buy NEE shares at $90, but the premium collected would've lowered your actual cost basis to $87.70. For someone already looking to grab NEE stock anyway, that's a solid way to get in at a discount compared to the market price at the time. Since that strike was roughly 1% below where NEE was trading, there was a decent shot it expired worthless - the data suggested around 57% odds of that. If it did, you'd pocket a 2.56% return on your cash commitment, which annualizes to about 18.67%. Pretty clean income play. On the call side, things looked different. The $100 strike call was priced at 55 cents, which opened up a covered call opportunity. Buy NEE at market price, then sell that call against it, and you're looking at a potential 10.52% total return if the stock gets called away at expiration. The $100 strike represented about a 10% cushion above where NEE was trading, giving you a 76% probability the call expires worthless and you keep both the shares and the premium. That would've added a 0.60% boost, or 4.42% annualized. The implied volatility was running at 30% for the put and 27% for the call, which was pretty close to the actual trailing 12-month volatility NEE was showing at 27%. These kinds of strategies highlight why studying both the options chain and the underlying company fundamentals matters - NEE options can offer interesting income opportunities depending on your outlook and risk tolerance.