Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for OCCIDENTAL PETROLEUM (OXY) for the 23-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. OXY was recently trading at $11.59 and has an implied volatility of 69.27% for this period. Based on an analysis of the options available for OXY expiring on 23-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $11.59-$14.46 at expiration. In this scenario, the average linear return for the trade would be 74.59%. Big 8.22% Change: After closing the last trading session at $10.71, OCCIDENTAL PETROLEUM opened today at $10.87 and has reached a high of $11.73. Trade approach: A movement as big as 8.22% is a significantly bullish indicator, so this trade is designed to be profitable if OXY maintains its current direction and does not revert back to pricing on the bearish side of $11.59 on 23-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 OCCIDENTAL PETROLEUM closes at or above $11.55 on 23-Oct-2020. Based on our risk-neutral analysis, there is a 50.65% 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.