Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for TAIWAN SEMICONDUCTOR (TSM) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TSM was recently trading at $90.26 and has an implied volatility of 36.33% for this period. Based on an analysis of the options available for TSM expiring on 15-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $89.94-$105.13 at expiration. In this scenario, the average linear return for the trade would be 55.79%. 52 week high: TAIWAN SEMICONDUCTOR recently reached a new 52-week high at $92.25. TSM had traded in the range $42.70-$91.27 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 TSM maintains its current direction and does not revert back to pricing on the bearish side of $90.26 on 15-Jan-2021. 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 TAIWAN SEMICONDUCTOR closes at or above $88.95 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 52.83% 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.