Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for CADENCE DESIGN SYSTEMS (CDNS) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CDNS was recently trading at $83.79 and has an implied volatility of 35.40% for this period. Based on an analysis of the options available for CDNS expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $83.82-$96.78 at expiration. In this scenario, the average linear return for the trade would be 44.87%. 52 week high: CADENCE DESIGN SYSTEMS recently reached a new 52-week high at $84.06. CDNS had traded in the range $51.39-$83.58 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 CDNS maintains its current direction and does not revert back to pricing on the bearish side of $83.79 on 17-Jul-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 CADENCE DESIGN SYSTEMS closes at or above $83.40 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 51.38% 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.