Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for SEATTLE GENETICS (SGEN) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SGEN was recently trading at $203.74 and has an implied volatility of 38.26% for this period. Based on an analysis of the options available for SGEN expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $203.74-$212.38 at expiration. In this scenario, the average linear return for the trade would be 17.65%. 52 week high: SEATTLE GENETICS recently reached a new 52-week high at $204.83. SGEN had traded in the range $80.02-$204.37 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 SGEN maintains its current direction and does not revert back to pricing on the bearish side of $203.74 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 SEATTLE GENETICS closes at or above $199.25 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 70.45% 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.