Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ADVANCED DRAINAGE SYSTEMS INC (WMS) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. WMS was recently trading at $63.65 and has an implied volatility of 42.70% for this period. Based on an analysis of the options available for WMS expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $63.65-$69.47 at expiration. In this scenario, the average linear return for the trade would be 52.52%. 52 week high: ADVANCED DRAINAGE SYSTEMS INC recently reached a new 52-week high at $64.23. WMS had traded in the range $22.13-$61.65 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 WMS maintains its current direction and does not revert back to pricing on the bearish side of $63.65 on 16-Oct-2020. 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 ADVANCED DRAINAGE SYSTEMS INC closes at or above $63.15 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 53.58% 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.