Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for EASTMAN CHEMICAL (EMN) for the 18-Dec-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. EMN was recently trading at $91.36 and has an implied volatility of 35.18% for this period. Based on an analysis of the options available for EMN expiring on 18-Dec-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $91.37-$102.25 at expiration. In this scenario, the average linear return for the trade would be 45.51%. 52 week high: EASTMAN CHEMICAL recently reached a new 52-week high at $93.70. EMN had traded in the range $34.44-$93.10 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 EMN maintains its current direction and does not revert back to pricing on the bearish side of $91.36 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 EASTMAN CHEMICAL closes at or above $90.10 on 18-Dec-2020. Based on our risk-neutral analysis, there is a 54.94% 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.