Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ELI LILLY (LLY) for the 30-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. LLY was recently trading at $245.19 and has an implied volatility of 26.46% for this period. Based on an analysis of the options available for LLY expiring on 30-Jul-2021, there is a 34.16% likelihood that the underlying will close within the analyzed range of $245.19-$250.50 at expiration. In this scenario, the average linear return for the trade would be 21.07%. 52 week high: ELI LILLY recently reached a new 52-week high at $246.16. LLY had traded in the range $129.21-$245.28 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 LLY maintains its current direction and does not revert back to pricing on the bearish side of $245.19 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 ELI LILLY closes at or above $244.13 on 30-Jul-2021. Based on our risk-neutral analysis, there is a 58.03% 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.