Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for TYLER TECHNOLOGIES (TYL) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TYL was recently trading at $363.42 and has an implied volatility of 32.66% for this period. Based on an analysis of the options available for TYL expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $363.52-$414.23 at expiration. In this scenario, the average linear return for the trade would be 45.78%. 52 week high: TYLER TECHNOLOGIES recently reached a new 52-week high at $368.98. TYL had traded in the range $205.90-$354.93 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 TYL maintains its current direction and does not revert back to pricing on the bearish side of $363.42 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 TYLER TECHNOLOGIES closes at or above $360.20 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 52.80% 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.