Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for NIKE (NKE) for the 27-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NKE was recently trading at $129.65 and has an implied volatility of 31.79% for this period. Based on an analysis of the options available for NKE expiring on 27-Nov-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $129.67-$145.93 at expiration. In this scenario, the average linear return for the trade would be 37.85%. 52 week high: NIKE recently reached a new 52-week high at $130.93. NKE had traded in the range $60.00-$130.44 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 NKE maintains its current direction and does not revert back to pricing on the bearish side of $129.65 on 27-Nov-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 NIKE closes at or above $128.20 on 27-Nov-2020. Based on our risk-neutral analysis, there is a 53.84% 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.