Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for PETCO HEALTH AND WELLNESS COMPANY INC. CLASS A CO (WOOF) for the 21-May-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. WOOF was recently trading at $24.41 and has an implied volatility of 75.89% for this period. Based on an analysis of the options available for WOOF expiring on 21-May-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $24.41-$33.49 at expiration. In this scenario, the average linear return for the trade would be 96.18%. Big 8.34% Change: After closing the last trading session at $22.53, PETCO HEALTH AND WELLNESS COMPANY INC. CLASS A CO opened today at $23.64 and has reached a high of $24.44. Trade approach: A movement as big as 8.34% is a significantly bullish indicator, so this trade is designed to be profitable if WOOF maintains its current direction and does not revert back to pricing on the bearish side of $24.41 on 21-May-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 PETCO HEALTH AND WELLNESS COMPANY INC. CLASS A CO closes at or above $24.00 on 21-May-2021. Based on our risk-neutral analysis, there is a 52.16% 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.