Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CAESERS ENTERTAINMENT INC (CZR) for the 6-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CZR was recently trading at $56.73 and has an implied volatility of 81.65% for this period. Based on an analysis of the options available for CZR expiring on 6-Nov-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $56.74-$74.94 at expiration. In this scenario, the average linear return for the trade would be 38.35%. Big 7.31% Change: After closing the last trading session at $52.87, CAESERS ENTERTAINMENT INC opened today at $54.85 and has reached a high of $57.33. Trade approach: A movement as big as 7.31% is a significantly bullish indicator, so this trade is designed to be profitable if CZR maintains its current direction and does not revert back to pricing on the bearish side of $56.73 on 6-Nov-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 CAESERS ENTERTAINMENT INC closes at or above $56.32 on 6-Nov-2020. Based on our risk-neutral analysis, there is a 51.07% 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.