Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for GRACO (GGG) for the 18-Dec-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. GGG was recently trading at $65.89 and has an implied volatility of 31.60% for this period. Based on an analysis of the options available for GGG expiring on 18-Dec-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $65.91-$74.70 at expiration. In this scenario, the average linear return for the trade would be 25.00%. 52 week high: GRACO recently reached a new 52-week high at $67.00. GGG had traded in the range $38.43-$66.14 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 GGG maintains its current direction and does not revert back to pricing on the bearish side of $65.89 on 18-Dec-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 GRACO closes at or above $64.00 on 18-Dec-2020. Based on our risk-neutral analysis, there is a 59.26% 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.