Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for NIKOLA CORP (NKLA) for the 6-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NKLA was recently trading at $19.79 and has an implied volatility of 124.48% for this period. Based on an analysis of the options available for NKLA expiring on 6-Nov-2020, there is a 34.17% likelihood that the underlying will close within the analyzed range of $19.79-$21.32 at expiration. In this scenario, the average linear return for the trade would be 50.87%. Big 7.18% Change: After closing the last trading session at $18.46, NIKOLA CORP opened today at $19.30 and has reached a high of $20.49. Trade approach: A movement as big as 7.18% is a significantly bullish indicator, so this trade is designed to be profitable if NKLA maintains its current direction and does not revert back to pricing on the bearish side of $19.79 on 6-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 NIKOLA CORP closes at or above $19.65 on 6-Nov-2020. Based on our risk-neutral analysis, there is a 53.65% 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.