Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CHEMOCENTRYX (CCXI) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CCXI was recently trading at $58.34 and has an implied volatility of 157.94% for this period. Based on an analysis of the options available for CCXI expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $58.34-$77.09 at expiration. In this scenario, the average linear return for the trade would be 62.14%. Big 8.65% Change: After closing the last trading session at $53.69, CHEMOCENTRYX opened today at $54.53 and has reached a high of $59.47. Trade approach: A movement as big as 8.65% is a significantly bullish indicator, so this trade is designed to be profitable if CCXI maintains its current direction and does not revert back to pricing on the bearish side of $58.34 on 16-Oct-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 CHEMOCENTRYX closes at or above $56.10 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 55.58% 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.