Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for CHEWY INC (CHWY) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CHWY was recently trading at $109.81 and has an implied volatility of 73.88% for this period. Based on an analysis of the options available for CHWY expiring on 19-Mar-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $109.83-$144.89 at expiration. In this scenario, the average linear return for the trade would be 83.08%. Big 7.35% Change: After closing the last trading session at $102.29, CHEWY INC opened today at $100.40 and has reached a high of $110.81. Trade approach: A movement as big as 7.35% is a significantly bullish indicator, so this trade is designed to be profitable if CHWY maintains its current direction and does not revert back to pricing on the bearish side of $109.81 on 19-Mar-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 CHEWY INC closes at or above $107.90 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 52.56% 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.