Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for STEEL DYNAMICS (STLD) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. STLD was recently trading at $37.12 and has an implied volatility of 37.70% for this period. Based on an analysis of the options available for STLD expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $37.13-$43.28 at expiration. In this scenario, the average linear return for the trade would be 56.46%. Big 7.22% Change: After closing the last trading session at $34.62, STEEL DYNAMICS opened today at $35.26 and has reached a high of $37.17. Trade approach: A movement as big as 7.22% is a significantly bullish indicator, so this trade is designed to be profitable if STLD maintains its current direction and does not revert back to pricing on the bearish side of $37.12 on 15-Jan-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 STEEL DYNAMICS closes at or above $36.95 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 51.26% 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.