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 $55.09 and has an implied volatility of 50.70% 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 $55.12-$62.49 at expiration. In this scenario, the average linear return for the trade would be 46.08%. Big 9.03% Change: After closing the last trading session at $50.53, NEWMONT CORP opened today at $51.13 and has reached a high of $56.05. Trade approach: A movement as big as 9.03% is a significantly 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 $55.09 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 $54.90 on 1-May-2020. Based on our risk-neutral analysis, there is a 51.30% 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.