Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PARKER HANNIFIN (PH) for the 18-Dec-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PH was recently trading at $234.00 and has an implied volatility of 30.66% for this period. Based on an analysis of the options available for PH expiring on 18-Dec-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $234.04-$260.10 at expiration. In this scenario, the average linear return for the trade would be 51.92%. Big 7.80% Change: After closing the last trading session at $217.06, PARKER HANNIFIN opened today at $228.67 and has reached a high of $235.83. Trade approach: A movement as big as 7.80% is a significantly bullish indicator, so this trade is designed to be profitable if PH maintains its current direction and does not revert back to pricing on the bearish side of $234.00 on 18-Dec-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 PARKER HANNIFIN closes at or above $232.60 on 18-Dec-2020. Based on our risk-neutral analysis, there is a 52.33% 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.