Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for HUMANA (HUM) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. HUM was recently trading at $446.37 and has an implied volatility of 31.25% for this period. Based on an analysis of the options available for HUM expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $446.49-$513.13 at expiration. In this scenario, the average linear return for the trade would be 48.92%. 52 week high: HUMANA recently reached a new 52-week high at $474.70. HUM had traded in the range $208.25-$449.43 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 HUM maintains its current direction and does not revert back to pricing on the bearish side of $446.37 on 15-Jan-2021. 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 HUMANA closes at or above $446.40 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 50.06% 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.