Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for INCYTE (INCY) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. INCY was recently trading at $94.29 and has an implied volatility of 47.84% for this period. Based on an analysis of the options available for INCY expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $94.30-$108.73 at expiration. In this scenario, the average linear return for the trade would be 35.35%. Big 7.15% Change: After closing the last trading session at $88.00, INCYTE opened today at $91.00 and has reached a high of $94.30. Trade approach: A movement as big as 7.15% is a significantly bullish indicator, so this trade is designed to be profitable if INCY maintains its current direction and does not revert back to pricing on the bearish side of $94.29 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 INCYTE closes at or above $93.90 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 51.20% 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.