Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ALEXION PHARMACEUTICALS (ALXN) for the 30-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ALXN was recently trading at $168.37 and has an implied volatility of 19.23% for this period. Based on an analysis of the options available for ALXN expiring on 30-Apr-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $168.37-$173.35 at expiration. In this scenario, the average linear return for the trade would be 12.78%. 52 week high: ALEXION PHARMACEUTICALS recently reached a new 52-week high at $168.38. ALXN had traded in the range $94.82-$166.81 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 ALXN maintains its current direction and does not revert back to pricing on the bearish side of $168.37 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 ALEXION PHARMACEUTICALS closes at or above $168.30 on 30-Apr-2021. Based on our risk-neutral analysis, there is a 50.60% 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.