Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for TOTAL SA (TOT) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TOT was recently trading at $35.76 and has an implied volatility of 35.81% for this period. Based on an analysis of the options available for TOT expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $35.77-$41.38 at expiration. In this scenario, the average linear return for the trade would be 18.50%. Big 8.27% Change: After closing the last trading session at $33.03, TOTAL SA opened today at $35.83 and has reached a high of $36.07. Trade approach: A movement as big as 8.27% is a significantly bullish indicator, so this trade is designed to be profitable if TOT maintains its current direction and does not revert back to pricing on the bearish side of $35.76 on 17-Jul-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 TOTAL SA closes at or above $33.85 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 64.76% 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.