Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for BANK OF NEW YORK MELLON (BK) for the 2-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BK was recently trading at $37.09 and has an implied volatility of 35.89% for this period. Based on an analysis of the options available for BK expiring on 2-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $37.10-$41.60 at expiration. In this scenario, the average linear return for the trade would be 46.08%. Big 7.51% Change: After closing the last trading session at $34.50, BANK OF NEW YORK MELLON opened today at $35.69 and has reached a high of $37.68. Trade approach: A movement as big as 7.51% is a significantly bullish indicator, so this trade is designed to be profitable if BK maintains its current direction and does not revert back to pricing on the bearish side of $37.09 on 2-Jul-2020. 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 BANK OF NEW YORK MELLON closes at or above $37.01 on 2-Jul-2020. Based on our risk-neutral analysis, there is a 50.81% 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.