Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for BRISTOL-MYERS SQUIBB (BMY) for the 31-Jan-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BMY was recently trading at $66.92 and has an implied volatility of 20.11% for this period. Based on an analysis of the options available for BMY expiring on 31-Jan-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $66.97-$69.90 at expiration. In this scenario, the average linear return for the trade would be 58.68%. 52 week high: BRISTOL-MYERS SQUIBB recently reached a new 52-week high at $67.09. BMY had traded in the range $42.48-$66.99 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 BMY maintains its current direction and does not revert back to pricing on the bearish side of $66.92 on 31-Jan-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 BRISTOL-MYERS SQUIBB closes at or above $66.63 on 31-Jan-2020. Based on our risk-neutral analysis, there is a 54.75% 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.