Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CLEVELAND-CLIFFS INC (CLF) for the 5-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CLF was recently trading at $17.66 and has an implied volatility of 73.05% for this period. Based on an analysis of the options available for CLF expiring on 5-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $17.67-$20.71 at expiration. In this scenario, the average linear return for the trade would be 59.84%. Big 7.19% Change: After closing the last trading session at $16.48, CLEVELAND-CLIFFS INC opened today at $17.29 and has reached a high of $18.18. Trade approach: A movement as big as 7.19% 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 $17.66 on 5-Feb-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 CLEVELAND-CLIFFS INC closes at or above $17.65 on 5-Feb-2021. Based on our risk-neutral analysis, there is a 50.23% 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.