Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PAYLOCITY HOLDING CORPORATION (PCTY) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PCTY was recently trading at $158.68 and has an implied volatility of 43.92% for this period. Based on an analysis of the options available for PCTY expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $158.69-$175.11 at expiration. In this scenario, the average linear return for the trade would be 43.05%. 52 week high: PAYLOCITY HOLDING CORPORATION recently reached a new 52-week high at $159.66. PCTY had traded in the range $66.98-$156.00 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 PCTY maintains its current direction and does not revert back to pricing on the bearish side of $158.68 on 16-Oct-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 PAYLOCITY HOLDING CORPORATION closes at or above $157.95 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 51.90% 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.