Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for TREX COMPANY (TREX) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TREX was recently trading at $122.28 and has an implied volatility of 50.90% for this period. Based on an analysis of the options available for TREX expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $122.31-$150.15 at expiration. In this scenario, the average linear return for the trade would be 57.84%. 52 week high: TREX COMPANY recently reached a new 52-week high at $124.50. TREX had traded in the range $56.22-$118.72 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 TREX maintains its current direction and does not revert back to pricing on the bearish side of $122.28 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 TREX COMPANY closes at or above $121.80 on 17-Jul-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.