Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for IRHYTHM TECHNOLOGIES INC. COMMON STOCK (IRTC) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IRTC was recently trading at $238.30 and has an implied volatility of 61.13% for this period. Based on an analysis of the options available for IRTC expiring on 15-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $238.33-$283.42 at expiration. In this scenario, the average linear return for the trade would be 56.70%. Big 7.10% Change: After closing the last trading session at $222.50, IRHYTHM TECHNOLOGIES INC. COMMON STOCK opened today at $225.79 and has reached a high of $239.71. Trade approach: A movement as big as 7.10% is a significantly bullish indicator, so this trade is designed to be profitable if IRTC maintains its current direction and does not revert back to pricing on the bearish side of $238.30 on 15-Jan-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 IRHYTHM TECHNOLOGIES INC. COMMON STOCK closes at or above $237.80 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 50.51% 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.