Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ELASTIC NV (ESTC) for the 20-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ESTC was recently trading at $127.44 and has an implied volatility of 45.12% for this period. Based on an analysis of the options available for ESTC expiring on 20-Aug-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $127.46-$157.10 at expiration. In this scenario, the average linear return for the trade would be 64.62%. Big 7.98% Change: After closing the last trading session at $118.02, ELASTIC NV opened today at $129.55 and has reached a high of $129.93. Trade approach: A movement as big as 7.98% is a significantly bullish indicator, so this trade is designed to be profitable if ESTC maintains its current direction and does not revert back to pricing on the bearish side of $127.44 on 20-Aug-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 ELASTIC NV closes at or above $126.20 on 20-Aug-2021. Based on our risk-neutral analysis, there is a 51.90% 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.