Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PAN AMERICAN SILVER (PAAS) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PAAS was recently trading at $35.22 and has an implied volatility of 79.04% for this period. Based on an analysis of the options available for PAAS expiring on 16-Apr-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $35.23-$50.32 at expiration. In this scenario, the average linear return for the trade would be 108.78%. Big 8.50% Change: After closing the last trading session at $32.46, PAN AMERICAN SILVER opened today at $37.37 and has reached a high of $39.62. Trade approach: A movement as big as 8.50% is a significantly bullish indicator, so this trade is designed to be profitable if PAAS maintains its current direction and does not revert back to pricing on the bearish side of $35.22 on 16-Apr-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 PAN AMERICAN SILVER closes at or above $34.70 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 51.69% 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.