Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ALCOA (AA) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. AA was recently trading at $26.89 and has an implied volatility of 63.07% for this period. Based on an analysis of the options available for AA expiring on 16-Apr-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $26.89-$34.06 at expiration. In this scenario, the average linear return for the trade would be 71.51%. Big 7.97% Change: After closing the last trading session at $24.90, ALCOA opened today at $25.10 and has reached a high of $27.07. Trade approach: A movement as big as 7.97% is a significantly bullish indicator, so this trade is designed to be profitable if AA maintains its current direction and does not revert back to pricing on the bearish side of $26.89 on 16-Apr-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 ALCOA closes at or above $26.68 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 51.32% 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.