Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for W.W. GRAINGER (GWW) for the 21-Jan-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. GWW was recently trading at $490.09 and has an implied volatility of 21.60% for this period. Based on an analysis of the options available for GWW expiring on 21-Jan-2022, there is a 34.14% likelihood that the underlying will close within the analyzed range of $490.16-$534.74 at expiration. In this scenario, the average linear return for the trade would be 41.52%. 52 week high: W.W. GRAINGER recently reached a new 52-week high at $494.86. GWW had traded in the range $356.23-$494.22 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 GWW maintains its current direction and does not revert back to pricing on the bearish side of $490.09 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 W.W. GRAINGER closes at or above $487.30 on 21-Jan-2022. Based on our risk-neutral analysis, there is a 52.68% 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.