Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ANALOG DEVICES (ADI) for the 30-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ADI was recently trading at $166.40 and has an implied volatility of 22.84% for this period. Based on an analysis of the options available for ADI expiring on 30-Jul-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $166.42-$180.53 at expiration. In this scenario, the average linear return for the trade would be 54.70%. 52 week high: ANALOG DEVICES recently reached a new 52-week high at $167.98. ADI had traded in the range $110.47-$167.87 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 ADI maintains its current direction and does not revert back to pricing on the bearish side of $166.40 on 30-Jul-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 ANALOG DEVICES closes at or above $166.10 on 30-Jul-2021. Based on our risk-neutral analysis, there is a 50.93% 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.