Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ILLUMINA (ILMN) for the 5-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ILMN was recently trading at $423.58 and has an implied volatility of 40.77% for this period. Based on an analysis of the options available for ILMN expiring on 5-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $423.59-$453.70 at expiration. In this scenario, the average linear return for the trade would be 51.41%. 52 week high: ILLUMINA recently reached a new 52-week high at $425.92. ILMN had traded in the range $196.78-$408.81 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 ILMN maintains its current direction and does not revert back to pricing on the bearish side of $423.58 on 5-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 ILLUMINA closes at or above $421.80 on 5-Feb-2021. Based on our risk-neutral analysis, there is a 52.46% 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.