Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CONTINENTAL RESOURCES (CLR) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CLR was recently trading at $19.62 and has an implied volatility of 74.60% for this period. Based on an analysis of the options available for CLR expiring on 29-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $19.62-$25.88 at expiration. In this scenario, the average linear return for the trade would be 50.28%. Big 7.04% Change: After closing the last trading session at $18.33, CONTINENTAL RESOURCES opened today at $18.48 and has reached a high of $19.79. Trade approach: A movement as big as 7.04% is a significantly bullish indicator, so this trade is designed to be profitable if CLR maintains its current direction and does not revert back to pricing on the bearish side of $19.62 on 29-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 CONTINENTAL RESOURCES closes at or above $19.60 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 50.17% 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.