Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for SNAP-ON (SNA) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SNA was recently trading at $179.84 and has an implied volatility of 30.46% for this period. Based on an analysis of the options available for SNA expiring on 15-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $179.87-$197.98 at expiration. In this scenario, the average linear return for the trade would be 54.88%. 52 week high: SNAP-ON recently reached a new 52-week high at $182.23. SNA had traded in the range $90.72-$181.79 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 SNA maintains its current direction and does not revert back to pricing on the bearish side of $179.84 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 SNAP-ON closes at or above $179.10 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 51.77% 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.