Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for NORTHROP GRUMMAN (NOC) for the 21-Jan-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NOC was recently trading at $408.63 and has an implied volatility of 26.38% for this period. Based on an analysis of the options available for NOC expiring on 21-Jan-2022, there is a 35.11% likelihood that the underlying will close within the analyzed range of $408.63-$417.99 at expiration. In this scenario, the average linear return for the trade would be 26.59%. 52 week high: NORTHROP GRUMMAN recently reached a new 52-week high at $408.77. NOC had traded in the range $282.88-$408.03 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 NOC maintains its current direction and does not revert back to pricing on the bearish side of $408.63 on 21-Jan-2022. 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 NORTHROP GRUMMAN closes at or above $407.80 on 21-Jan-2022. Based on our risk-neutral analysis, there is a 53.73% 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.