Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for EOG RESOURCES (EOG) for the 24-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. EOG was recently trading at $37.56 and has an implied volatility of 86.86% for this period. Based on an analysis of the options available for EOG expiring on 24-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $37.21-$46.79 at expiration. In this scenario, the average linear return for the trade would be 49.01%. Big 8.55% Change: After closing the last trading session at $34.60, EOG RESOURCES opened today at $36.63 and has reached a high of $37.94. Trade approach: A movement as big as 8.55% is a significantly bullish indicator, so this trade is designed to be profitable if EOG maintains its current direction and does not revert back to pricing on the bearish side of $37.56 on 24-Apr-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 EOG RESOURCES closes at or above $37.00 on 24-Apr-2020. Based on our risk-neutral analysis, there is a 50.98% 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.