Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for BIOMARIN PHARMACEUTICAL (BMRN) for the 21-Jan-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BMRN was recently trading at $89.77 and has an implied volatility of 38.81% for this period. Based on an analysis of the options available for BMRN expiring on 21-Jan-2022, there is a 34.14% likelihood that the underlying will close within the analyzed range of $89.78-$105.53 at expiration. In this scenario, the average linear return for the trade would be 38.56%. Big 8.26% Change: After closing the last trading session at $82.92, BIOMARIN PHARMACEUTICAL opened today at $83.54 and has reached a high of $91.10. Trade approach: A movement as big as 8.26% is a significantly bullish indicator, so this trade is designed to be profitable if BMRN maintains its current direction and does not revert back to pricing on the bearish side of $89.77 on 21-Jan-2022. 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 BIOMARIN PHARMACEUTICAL closes at or above $88.65 on 21-Jan-2022. Based on our risk-neutral analysis, there is a 53.14% 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.