Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for DYCOM INDUSTRIES (DY) for the 20-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. DY was recently trading at $70.04 and has an implied volatility of 61.97% for this period. Based on an analysis of the options available for DY expiring on 20-Nov-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $70.05-$83.26 at expiration. In this scenario, the average linear return for the trade would be 41.12%. 52 week high: DYCOM INDUSTRIES recently reached a new 52-week high at $70.27. DY had traded in the range $12.24-$69.31 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 DY maintains its current direction and does not revert back to pricing on the bearish side of $70.04 on 20-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 DYCOM INDUSTRIES closes at or above $69.80 on 20-Nov-2020. Based on our risk-neutral analysis, there is a 50.82% 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.