Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for FASTENAL (FAST) for the 19-Jun-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. FAST was recently trading at $39.57 and has an implied volatility of 32.87% for this period. Based on an analysis of the options available for FAST expiring on 19-Jun-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $39.58-$43.64 at expiration. In this scenario, the average linear return for the trade would be 49.74%. 52 week high: FASTENAL recently reached a new 52-week high at $40.46. FAST had traded in the range $26.71-$39.96 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 FAST maintains its current direction and does not revert back to pricing on the bearish side of $39.57 on 19-Jun-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 FASTENAL closes at or above $39.15 on 19-Jun-2020. Based on our risk-neutral analysis, there is a 54.41% 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.