Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CENTENE (CNC) for the 5-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CNC was recently trading at $65.79 and has an implied volatility of 32.69% for this period. Based on an analysis of the options available for CNC expiring on 5-Feb-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $65.80-$72.29 at expiration. In this scenario, the average linear return for the trade would be 31.00%. Big 7.73% Change: After closing the last trading session at $61.07, CENTENE opened today at $62.61 and has reached a high of $65.98. Trade approach: A movement as big as 7.73% is a significantly bullish indicator, so this trade is designed to be profitable if CNC maintains its current direction and does not revert back to pricing on the bearish side of $65.79 on 5-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 CENTENE closes at or above $64.79 on 5-Feb-2021. Based on our risk-neutral analysis, there is a 56.51% 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.