|Strike Price||Option Price||Cost Basis if exercised||Total Return if Expires||CAGR if Expires||YOC if exercised|
If you're looking for more downside protection and therefore less of a chance of being put the shares then I like the #37 put since you get 4.59% of downside til the option could possibly be exercised and a total of 5.99% of downside before you would lose money on the move. That while still providing an adequate return for the approximate 2 month holding period.
The $39 put would be intriguing to me if I had the money to make the move. The put would currently be in the money meaning it could be exercised right away; however, you still have 2.79% of downside protection before you would lose money on the move. As long as the shares don't trade less than $37.62 if worked out for you. I think based on the return possibilities for a fairly steady stock that it would probably be the option I would look to make a move on since you would get a better dividend yield over buying outright.
I would normally try and get further downside protection but this is a shorter term option than some of the previous ones that I've looked at.