Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for ROYAL BANK OF CANADA. (RY) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RY was recently trading at $83.98 and has an implied volatility of 18.79% for this period. Based on an analysis of the options available for RY expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $83.99-$89.12 at expiration. In this scenario, the average linear return for the trade would be 45.58%. 52 week high: ROYAL BANK OF CANADA. recently reached a new 52-week high at $83.99. RY had traded in the range $49.55-$83.54 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 RY maintains its current direction and does not revert back to pricing on the bearish side of $83.98 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 ROYAL BANK OF CANADA. closes at or above $83.35 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 55.15% 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.