Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for NXP SEMICONDUCTOR (NXPI) for the 30-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NXPI was recently trading at $196.56 and has an implied volatility of 42.45% for this period. Based on an analysis of the options available for NXPI expiring on 30-Apr-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $196.58-$228.71 at expiration. In this scenario, the average linear return for the trade would be 53.68%. Big 7.13% Change: After closing the last trading session at $183.47, NXP SEMICONDUCTOR opened today at $196.80 and has reached a high of $198.30. Trade approach: A movement as big as 7.13% is a significantly bullish indicator, so this trade is designed to be profitable if NXPI maintains its current direction and does not revert back to pricing on the bearish side of $196.56 on 30-Apr-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 NXP SEMICONDUCTOR closes at or above $196.40 on 30-Apr-2021. Based on our risk-neutral analysis, there is a 50.24% 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.