Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for MAGNITE INC. COMMON STOCK (MGNI) for the 18-Dec-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MGNI was recently trading at $11.74 and has an implied volatility of 69.99% for this period. Based on an analysis of the options available for MGNI expiring on 18-Dec-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $11.74-$14.36 at expiration. In this scenario, the average linear return for the trade would be 62.66%. Big 7.31% Change: After closing the last trading session at $10.94, MAGNITE INC. COMMON STOCK opened today at $11.22 and has reached a high of $11.82. Trade approach: A movement as big as 7.31% is a significantly bullish indicator, so this trade is designed to be profitable if MGNI maintains its current direction and does not revert back to pricing on the bearish side of $11.74 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 MAGNITE INC. COMMON STOCK closes at or above $11.45 on 18-Dec-2020. Based on our risk-neutral analysis, there is a 54.96% 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.