Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for IRIDIUM COMMUNICATIONS (IRDM) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IRDM was recently trading at $44.08 and has an implied volatility of 49.96% for this period. Based on an analysis of the options available for IRDM expiring on 15-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $44.08-$52.68 at expiration. In this scenario, the average linear return for the trade would be 50.51%. Big 8.52% Change: After closing the last trading session at $40.62, IRIDIUM COMMUNICATIONS opened today at $43.74 and has reached a high of $45.34. Trade approach: A movement as big as 8.52% is a significantly bullish indicator, so this trade is designed to be profitable if IRDM maintains its current direction and does not revert back to pricing on the bearish side of $44.08 on 15-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 IRIDIUM COMMUNICATIONS closes at or above $43.90 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 50.94% 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.