Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for APACHE (APA) for the 23-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APA was recently trading at $9.93 and has an implied volatility of 66.05% for this period. Based on an analysis of the options available for APA expiring on 23-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $9.90-$11.00 at expiration. In this scenario, the average linear return for the trade would be 76.16%. Big 8.59% Change: After closing the last trading session at $9.14, APACHE opened today at $9.28 and has reached a high of $9.95. Trade approach: A movement as big as 8.59% is a significantly bullish indicator, so this trade is designed to be profitable if APA maintains its current direction and does not revert back to pricing on the bearish side of $9.93 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 APACHE closes at or above $9.78 on 23-Oct-2020. Based on our risk-neutral analysis, there is a 54.42% 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.