Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CAESERS ENTERTAINMENT INC (CZR) for the 23-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CZR was recently trading at $109.91 and has an implied volatility of 45.95% for this period. Based on an analysis of the options available for CZR expiring on 23-Jul-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $109.92-$129.02 at expiration. In this scenario, the average linear return for the trade would be 75.68%. 52 week high: CAESERS ENTERTAINMENT INC recently reached a new 52-week high at $112.34. CZR had traded in the range $29.06-$111.32 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 CZR maintains its current direction and does not revert back to pricing on the bearish side of $109.91 on 23-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 CAESERS ENTERTAINMENT INC closes at or above $109.80 on 23-Jul-2021. Based on our risk-neutral analysis, there is a 50.27% 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.