Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CHEWY INC (CHWY) for the 29-May-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CHWY was recently trading at $41.56 and has an implied volatility of 65.93% for this period. Based on an analysis of the options available for CHWY expiring on 29-May-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $41.61-$53.14 at expiration. In this scenario, the average linear return for the trade would be 25.52%. 52 week high: CHEWY INC recently reached a new 52-week high at $41.97. CHWY had traded in the range $20.62-$41.34 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 CHWY maintains its current direction and does not revert back to pricing on the bearish side of $41.56 on 29-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 CHEWY INC closes at or above $41.40 on 29-May-2020. Based on our risk-neutral analysis, there is a 50.82% 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.