Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ELASTIC NV (ESTC) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ESTC was recently trading at $162.78 and has an implied volatility of 48.01% for this period. Based on an analysis of the options available for ESTC expiring on 19-Feb-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $162.80-$189.00 at expiration. In this scenario, the average linear return for the trade would be 70.19%. 52 week high: ELASTIC NV recently reached a new 52-week high at $170.61. ESTC had traded in the range $39.01-$159.95 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 ESTC maintains its current direction and does not revert back to pricing on the bearish side of $162.78 on 19-Feb-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 ELASTIC NV closes at or above $160.80 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 53.30% 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.