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Big Gainer Alert: Trading today’s 8.1% move in CAMECO

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Quantchabot has detected a promising Bull Put Spread trade opportunity for CAMECO (CCJ) for the 22-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

CCJ was recently trading at $27.02 and has an implied volatility of 69.98% for this period. Based on an analysis of the options available for CCJ expiring on 22-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $27.02-$29.17 at expiration. In this scenario, the average linear return for the trade would be 79.39%.

Big 8.12% Change: After closing the last trading session at $24.99, CAMECO opened today at $26.10 and has reached a high of $27.14.

Trade approach: A movement as big as 8.12% is a significantly bullish indicator, so this trade is designed to be profitable if CCJ maintains its current direction and does not revert back to pricing on the bearish side of $27.02 on 22-Oct-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 CAMECO closes at or above $27.02 on 22-Oct-2021. Based on our risk-neutral analysis, there is a 50.01% 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.

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