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Quantchabot has detected a promising Bull Put Spread trade opportunity for ASANA INC (ASAN) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

ASAN was recently trading at $37.74 and has an implied volatility of 72.04% for this period. Based on an analysis of the options available for ASAN expiring on 19-Feb-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $37.74-$47.53 at expiration. In this scenario, the average linear return for the trade would be 98.00%.

Big 7.89% Change: After closing the last trading session at $34.98, ASANA INC opened today at $35.00 and has reached a high of $37.77.

Trade approach: A movement as big as 7.89% is a significantly bullish indicator, so this trade is designed to be profitable if ASAN maintains its current direction and does not revert back to pricing on the bearish side of $37.74 on 19-Feb-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 ASANA INC closes at or above $37.35 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 51.82% 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.