Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for PRINCIPIA BIOPHARMA INC. COMMON STOCK (PRNB) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PRNB was recently trading at $83.71 and has an implied volatility of 164.18% for this period. Based on an analysis of the options available for PRNB expiring on 17-Jul-2020, there is a 34.15% likelihood that the underlying will close within the analyzed range of $83.71-$92.08 at expiration. In this scenario, the average linear return for the trade would be 44.34%. Big 12.91% Change: After closing the last trading session at $74.14, PRINCIPIA BIOPHARMA INC. COMMON STOCK opened today at $73.44 and has reached a high of $84.00. Trade approach: A movement as big as 12.91% is a significantly bullish indicator, so this trade is designed to be profitable if PRNB maintains its current direction and does not revert back to pricing on the bearish side of $83.71 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 PRINCIPIA BIOPHARMA INC. COMMON STOCK closes at or above $83.65 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 50.30% 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.