Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for BIOHAVEN PHARMACEUTICAL HOLDING CO LTD (BHVN) for the 16-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BHVN was recently trading at $123.53 and has an implied volatility of 53.18% for this period. Based on an analysis of the options available for BHVN expiring on 16-Jul-2021, there is a 34.17% likelihood that the underlying will close within the analyzed range of $123.53-$125.52 at expiration. In this scenario, the average linear return for the trade would be 32.83%. 52 week high: BIOHAVEN PHARMACEUTICAL HOLDING CO LTD recently reached a new 52-week high at $123.59. BHVN had traded in the range $57.66-$123.41 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 BHVN maintains its current direction and does not revert back to pricing on the bearish side of $123.53 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 BIOHAVEN PHARMACEUTICAL HOLDING CO LTD closes at or above $123.30 on 16-Jul-2021. Based on our risk-neutral analysis, there is a 54.60% 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.