Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ZIONS BANCORPORATION (ZION) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ZION was recently trading at $31.36 and has an implied volatility of 45.37% for this period. Based on an analysis of the options available for ZION expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $31.37-$37.61 at expiration. In this scenario, the average linear return for the trade would be 43.47%. Big 7.32% Change: After closing the last trading session at $29.22, ZIONS BANCORPORATION opened today at $30.52 and has reached a high of $31.49. Trade approach: A movement as big as 7.32% is a significantly bullish indicator, so this trade is designed to be profitable if ZION maintains its current direction and does not revert back to pricing on the bearish side of $31.36 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 ZIONS BANCORPORATION closes at or above $31.06 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.