Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for NEWMONT CORP (NEM) for the 1-May-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NEM was recently trading at $54.65 and has an implied volatility of 50.57% for this period. Based on an analysis of the options available for NEM expiring on 1-May-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $54.68-$61.98 at expiration. In this scenario, the average linear return for the trade would be 43.65%. 52 week high: NEWMONT CORP recently reached a new 52-week high at $54.85. NEM had traded in the range $29.77-$52.49 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 NEM maintains its current direction and does not revert back to pricing on the bearish side of $54.65 on 1-May-2020. 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 NEWMONT CORP closes at or above $54.63 on 1-May-2020. Based on our risk-neutral analysis, there is a 50.30% 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.