Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for VARONIS SYSTEMS INC. COMMON S (VRNS) for the 18-Sep-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. VRNS was recently trading at $117.18 and has an implied volatility of 44.84% for this period. Based on an analysis of the options available for VRNS expiring on 18-Sep-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $117.20-$137.27 at expiration. In this scenario, the average linear return for the trade would be 26.95%. Big 10.44% Change: After closing the last trading session at $106.10, VARONIS SYSTEMS INC. COMMON S opened today at $120.00 and has reached a high of $120.00. Trade approach: A movement as big as 10.44% is a significantly bullish indicator, so this trade is designed to be profitable if VRNS maintains its current direction and does not revert back to pricing on the bearish side of $117.18 on 18-Sep-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 VARONIS SYSTEMS INC. COMMON S closes at or above $115.55 on 18-Sep-2020. Based on our risk-neutral analysis, there is a 53.58% 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.