Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for PHILLIPS 66 (PSX) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PSX was recently trading at $62.09 and has an implied volatility of 46.74% for this period. Based on an analysis of the options available for PSX expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $62.10-$75.10 at expiration. In this scenario, the average linear return for the trade would be 64.62%. Big 7.31% Change: After closing the last trading session at $57.86, PHILLIPS 66 opened today at $61.19 and has reached a high of $62.22. Trade approach: A movement as big as 7.31% is a significantly bullish indicator, so this trade is designed to be profitable if PSX maintains its current direction and does not revert back to pricing on the bearish side of $62.09 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 PHILLIPS 66 closes at or above $61.80 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 51.03% 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.