Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for SYNOPSYS (SNPS) for the 20-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SNPS was recently trading at $232.04 and has an implied volatility of 34.06% for this period. Based on an analysis of the options available for SNPS expiring on 20-Nov-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $232.05-$249.36 at expiration. In this scenario, the average linear return for the trade would be 32.45%. 52 week high: SYNOPSYS recently reached a new 52-week high at $233.77. SNPS had traded in the range $104.90-$232.74 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 SNPS maintains its current direction and does not revert back to pricing on the bearish side of $232.04 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 SYNOPSYS closes at or above $227.55 on 20-Nov-2020. Based on our risk-neutral analysis, there is a 60.74% 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.