Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PEGASYSTEMS (PEGA) for the 18-Sep-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PEGA was recently trading at $112.93 and has an implied volatility of 34.35% for this period. Based on an analysis of the options available for PEGA expiring on 18-Sep-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $112.96-$128.48 at expiration. In this scenario, the average linear return for the trade would be 40.30%. Big 8.21% Change: After closing the last trading session at $104.36, PEGASYSTEMS opened today at $105.55 and has reached a high of $113.54. Trade approach: A movement as big as 8.21% is a significantly bullish indicator, so this trade is designed to be profitable if PEGA maintains its current direction and does not revert back to pricing on the bearish side of $112.93 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 PEGASYSTEMS closes at or above $112.00 on 18-Sep-2020. Based on our risk-neutral analysis, there is a 52.63% 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.