Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for VARONIS SYSTEMS INC. COMMON S (VRNS) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. VRNS was recently trading at $214.00 and has an implied volatility of 47.41% for this period. Based on an analysis of the options available for VRNS expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $214.02-$248.55 at expiration. In this scenario, the average linear return for the trade would be 57.07%. Big 7.69% Change: After closing the last trading session at $198.72, VARONIS SYSTEMS INC. COMMON S opened today at $206.95 and has reached a high of $226.00. Trade approach: A movement as big as 7.69% is a significantly bullish indicator, so this trade is designed to be profitable if VRNS maintains its current direction and does not revert back to pricing on the bearish side of $214.00 on 19-Mar-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 VARONIS SYSTEMS INC. COMMON S closes at or above $212.30 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 52.16% 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.