Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for FRANCO-NEVADA (FNV) for the 21-Feb-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. FNV was recently trading at $110.21 and has an implied volatility of 20.92% for this period. Based on an analysis of the options available for FNV expiring on 21-Feb-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $110.33-$116.51 at expiration. In this scenario, the average linear return for the trade would be 38.89%. 52 week high: FRANCO-NEVADA recently reached a new 52-week high at $110.55. FNV had traded in the range $69.16-$110.46 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 FNV maintains its current direction and does not revert back to pricing on the bearish side of $110.21 on 21-Feb-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 FRANCO-NEVADA closes at or above $108.60 on 21-Feb-2020. Based on our risk-neutral analysis, there is a 61.44% 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.