Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for IQIYI INC. AMERICAN DEPOSITARY SHARES (IQ) for the 23-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IQ was recently trading at $15.24 and has an implied volatility of 70.26% for this period. Based on an analysis of the options available for IQ expiring on 23-Apr-2021, there is a 34.16% likelihood that the underlying will close within the analyzed range of $15.24-$16.11 at expiration. In this scenario, the average linear return for the trade would be 35.77%. Big 7.70% Change: After closing the last trading session at $14.15, IQIYI INC. AMERICAN DEPOSITARY SHARES opened today at $14.17 and has reached a high of $15.29. Trade approach: A movement as big as 7.70% is a significantly bullish indicator, so this trade is designed to be profitable if IQ maintains its current direction and does not revert back to pricing on the bearish side of $15.24 on 23-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 IQIYI INC. AMERICAN DEPOSITARY SHARES closes at or above $15.07 on 23-Apr-2021. Based on our risk-neutral analysis, there is a 57.98% 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.