Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for OLD DOMINION FREIGHT LNS (ODFL) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ODFL was recently trading at $221.49 and has an implied volatility of 31.31% for this period. Based on an analysis of the options available for ODFL expiring on 16-Apr-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $221.52-$247.33 at expiration. In this scenario, the average linear return for the trade would be 45.34%. 52 week high: OLD DOMINION FREIGHT LNS recently reached a new 52-week high at $222.11. ODFL had traded in the range $105.80-$220.64 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 ODFL maintains its current direction and does not revert back to pricing on the bearish side of $221.49 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 OLD DOMINION FREIGHT LNS closes at or above $219.45 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 53.39% 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.