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52-Week High Alert: Trading today’s movement in SILGAN HOLDINGS

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Quantchabot has detected a promising Bull Put Spread trade opportunity for SILGAN HOLDINGS (SLGN) for the 18-Sep-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

SLGN was recently trading at $37.66 and has an implied volatility of 41.13% for this period. Based on an analysis of the options available for SLGN expiring on 18-Sep-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $37.67-$44.27 at expiration. In this scenario, the average linear return for the trade would be 23.99%.

52 week high: SILGAN HOLDINGS recently reached a new 52-week high at $38.21. SLGN had traded in the range $24.64-$35.94 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 SLGN maintains its current direction and does not revert back to pricing on the bearish side of $37.66 on 18-Sep-2020. 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 SILGAN HOLDINGS closes at or above $37.65 on 18-Sep-2020. Based on our risk-neutral analysis, there is a 50.13% 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.

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