Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for CLEVELAND-CLIFFS INC (CLF) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CLF was recently trading at $7.29 and has an implied volatility of 55.16% for this period. Based on an analysis of the options available for CLF expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $7.29-$8.50 at expiration. In this scenario, the average linear return for the trade would be 48.28%. Big 9.13% Change: After closing the last trading session at $6.68, CLEVELAND-CLIFFS INC opened today at $6.70 and has reached a high of $7.29. Trade approach: A movement as big as 9.13% is a significantly bullish indicator, so this trade is designed to be profitable if CLF maintains its current direction and does not revert back to pricing on the bearish side of $7.29 on 16-Oct-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 CLEVELAND-CLIFFS INC closes at or above $7.18 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 53.96% 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.