Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for EQUITY RESIDENTIAL (EQR) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. EQR was recently trading at $69.83 and has an implied volatility of 49.57% for this period. Based on an analysis of the options available for EQR expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $69.85-$75.24 at expiration. In this scenario, the average linear return for the trade would be 24.91%. Big 7.03% Change: After closing the last trading session at $65.25, EQUITY RESIDENTIAL opened today at $66.27 and has reached a high of $70.61. Trade approach: A movement as big as 7.03% is a significantly bullish indicator, so this trade is designed to be profitable if EQR maintains its current direction and does not revert back to pricing on the bearish side of $69.83 on 17-Apr-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 EQUITY RESIDENTIAL closes at or above $69.00 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 56.53% 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.