Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for STERIS PLC (STE) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. STE was recently trading at $176.49 and has an implied volatility of 28.56% for this period. Based on an analysis of the options available for STE expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $176.50-$187.49 at expiration. In this scenario, the average linear return for the trade would be 21.93%. 52 week high: STERIS PLC recently reached a new 52-week high at $176.49. STE had traded in the range $105.69-$176.06 over the past year. Trade approach: Reaching a new 52-week high is a bullish indicator, so this trade is designed to be profitable if STE maintains its current direction and does not revert back to pricing on the bearish side of $176.49 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 STERIS PLC closes at or above $175.85 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 52.46% 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.