Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for EATON PUBLIC (ETN) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ETN was recently trading at $127.84 and has an implied volatility of 25.87% for this period. Based on an analysis of the options available for ETN expiring on 29-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $127.85-$136.49 at expiration. In this scenario, the average linear return for the trade would be 51.17%. 52 week high: EATON PUBLIC recently reached a new 52-week high at $128.03. ETN had traded in the range $56.41-$123.67 over the past year. Trade approach: Reaching a new 52-week high is a bullish indicator, so this trade is designed to be profitable if ETN maintains its current direction and does not revert back to pricing on the bearish side of $127.84 on 29-Jan-2021. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if EATON PUBLIC closes at or above $127.75 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 50.48% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.