Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for SYNOPSYS (SNPS) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SNPS was recently trading at $274.63 and has an implied volatility of 33.65% for this period. Based on an analysis of the options available for SNPS expiring on 19-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $274.66-$302.61 at expiration. In this scenario, the average linear return for the trade would be 36.26%. 52 week high: SYNOPSYS recently reached a new 52-week high at $280.11. SNPS had traded in the range $104.90-$264.62 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 SNPS maintains its current direction and does not revert back to pricing on the bearish side of $274.63 on 19-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 SYNOPSYS closes at or above $274.20 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 50.69% 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.