Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for OCCIDENTAL PETROLEUM (OXY) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. OXY was recently trading at $22.47 and has an implied volatility of 73.22% for this period. Based on an analysis of the options available for OXY expiring on 29-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $22.47-$26.36 at expiration. In this scenario, the average linear return for the trade would be 106.94%. Big 11.90% Change: After closing the last trading session at $20.08, OCCIDENTAL PETROLEUM opened today at $20.59 and has reached a high of $22.60. Trade approach: A movement as big as 11.90% is a significantly bullish indicator, so this trade is designed to be profitable if OXY maintains its current direction and does not revert back to pricing on the bearish side of $22.47 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 OCCIDENTAL PETROLEUM closes at or above $22.46 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 50.13% 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.