Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for WYNN RESORTS (WYNN) for the 24-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. WYNN was recently trading at $85.03 and has an implied volatility of 87.95% for this period. Based on an analysis of the options available for WYNN expiring on 24-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $85.03-$97.90 at expiration. In this scenario, the average linear return for the trade would be 73.41%. Big 7.23% Change: After closing the last trading session at $79.30, WYNN RESORTS opened today at $82.01 and has reached a high of $85.40. Trade approach: A movement as big as 7.23% is a significantly bullish indicator, so this trade is designed to be profitable if WYNN maintains its current direction and does not revert back to pricing on the bearish side of $85.03 on 24-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 WYNN RESORTS closes at or above $84.36 on 24-Jul-2020. Based on our risk-neutral analysis, there is a 52.25% 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.