Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PENUMBRA INC (PEN) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PEN was recently trading at $266.00 and has an implied volatility of 62.17% for this period. Based on an analysis of the options available for PEN expiring on 19-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $266.02-$313.32 at expiration. In this scenario, the average linear return for the trade would be 53.83%. Big 9.00% Change: After closing the last trading session at $244.04, PENUMBRA INC opened today at $245.93 and has reached a high of $284.93. Trade approach: A movement as big as 9.00% is a significantly bullish indicator, so this trade is designed to be profitable if PEN maintains its current direction and does not revert back to pricing on the bearish side of $266.00 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 PENUMBRA INC closes at or above $264.30 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 51.58% 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.