Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for NORTONLIFELOCK INC (NLOK) for the 16-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NLOK was recently trading at $25.52 and has an implied volatility of 29.59% for this period. Based on an analysis of the options available for NLOK expiring on 16-Jul-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $25.39-$28.76 at expiration. In this scenario, the average linear return for the trade would be 60.81%. 52 week high: NORTONLIFELOCK INC recently reached a new 52-week high at $25.73. NLOK had traded in the range $17.98-$24.40 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 NLOK maintains its current direction and does not revert back to pricing on the bearish side of $25.52 on 16-Jul-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 NORTONLIFELOCK INC closes at or above $25.20 on 16-Jul-2021. Based on our risk-neutral analysis, there is a 52.47% 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.