Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CARVANA CO (CVNA) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CVNA was recently trading at $242.32 and has an implied volatility of 65.36% for this period. Based on an analysis of the options available for CVNA expiring on 19-Feb-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $242.41-$334.29 at expiration. In this scenario, the average linear return for the trade would be 84.98%. 52 week high: CARVANA CO recently reached a new 52-week high at $244.53. CVNA had traded in the range $22.16-$242.15 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 CVNA maintains its current direction and does not revert back to pricing on the bearish side of $242.32 on 19-Feb-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 CARVANA CO closes at or above $240.35 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 51.06% 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.