Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for HONEYWELL INTERNATIONAL (HON) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. HON was recently trading at $215.28 and has an implied volatility of 26.50% for this period. Based on an analysis of the options available for HON expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $215.31-$232.97 at expiration. In this scenario, the average linear return for the trade would be 45.47%. 52 week high: HONEYWELL INTERNATIONAL recently reached a new 52-week high at $216.70. HON had traded in the range $101.08-$213.82 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 HON maintains its current direction and does not revert back to pricing on the bearish side of $215.28 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 HONEYWELL INTERNATIONAL closes at or above $213.22 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 54.92% 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.