Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for AIR PRODUCTS & CHEMICALS (APD) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APD was recently trading at $268.30 and has an implied volatility of 29.29% for this period. Based on an analysis of the options available for APD expiring on 17-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $268.31-$280.47 at expiration. In this scenario, the average linear return for the trade would be 36.81%. 52 week high: AIR PRODUCTS & CHEMICALS recently reached a new 52-week high at $271.79. APD had traded in the range $167.43-$257.01 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 APD maintains its current direction and does not revert back to pricing on the bearish side of $268.30 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 AIR PRODUCTS & CHEMICALS closes at or above $267.20 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 53.73% 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.