Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for TRANE TECHNOLOGIES PLC (TT) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TT was recently trading at $169.36 and has an implied volatility of 20.91% for this period. Based on an analysis of the options available for TT expiring on 16-Apr-2021, there is a 34.15% likelihood that the underlying will close within the analyzed range of $169.36-$172.79 at expiration. In this scenario, the average linear return for the trade would be 14.58%. 52 week high: TRANE TECHNOLOGIES PLC recently reached a new 52-week high at $171.00. TT had traded in the range $73.73-$169.62 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 TT maintains its current direction and does not revert back to pricing on the bearish side of $169.36 on 16-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 TRANE TECHNOLOGIES PLC closes at or above $169.30 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 50.73% 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.