Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for OLD DOMINION FREIGHT LNS (ODFL) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ODFL was recently trading at $157.70 and has an implied volatility of 39.28% for this period. Based on an analysis of the options available for ODFL expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $157.74-$184.57 at expiration. In this scenario, the average linear return for the trade would be 44.78%. 52 week high: OLD DOMINION FREIGHT LNS recently reached a new 52-week high at $158.45. ODFL had traded in the range $87.25-$157.70 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 ODFL maintains its current direction and does not revert back to pricing on the bearish side of $157.70 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 OLD DOMINION FREIGHT LNS closes at or above $156.40 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 52.17% 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.