Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for PROGRESS SOFTWARE (PRGS) for the 17-Dec-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PRGS was recently trading at $51.26 and has an implied volatility of 25.64% for this period. Based on an analysis of the options available for PRGS expiring on 17-Dec-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $51.10-$57.80 at expiration. In this scenario, the average linear return for the trade would be 26.75%. Big 10.93% Change: After closing the last trading session at $46.21, PROGRESS SOFTWARE opened today at $49.84 and has reached a high of $51.99. Trade approach: A movement as big as 10.93% is a significantly bullish indicator, so this trade is designed to be profitable if PRGS maintains its current direction and does not revert back to pricing on the bearish side of $51.26 on 17-Dec-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 PROGRESS SOFTWARE closes at or above $50.80 on 17-Dec-2021. Based on our risk-neutral analysis, there is a 51.87% 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.