Just looked back at some CBRE options activity from a while back and noticed something interesting about how the July expiration was setting up. They had this put contract at $140 strike paying $8 premium, which basically meant if you sold it you'd be committing to buy shares but getting paid to do it. Cost basis would've come down to $132 vs the stock trading around $144 at the time. Pretty decent if you were already looking to accumulate.

The math on that was wild too - if it expired worthless (and the odds looked like 63% at that point), you're looking at 5.7% return on the cash or like 14.5% annualized. They called it YieldBoost. On the call side they had a $150 strike at $10.30, so covered call sellers were looking at 11% total return if assigned. That one had about 50-50 odds of expiring worthless.

Volatility was sitting around 36% implied versus 33% actual, so the options were fairly priced. It's a good reminder to check these expiration dates when they first open up - more time value means better premiums for sellers. Probably worth reviewing how that setup actually played out.