Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CARVANA CO (CVNA) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CVNA was recently trading at $232.94 and has an implied volatility of 67.82% for this period. Based on an analysis of the options available for CVNA expiring on 16-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $232.98-$295.83 at expiration. In this scenario, the average linear return for the trade would be 85.77%. Big 7.86% Change: After closing the last trading session at $215.96, CARVANA CO opened today at $215.12 and has reached a high of $233.78. Trade approach: A movement as big as 7.86% is a significantly bullish indicator, so this trade is designed to be profitable if CVNA maintains its current direction and does not revert back to pricing on the bearish side of $232.94 on 16-Oct-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 CARVANA CO closes at or above $229.90 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 52.22% 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.