Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for EATON PUBLIC (ETN) for the 30-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ETN was recently trading at $145.18 and has an implied volatility of 19.22% for this period. Based on an analysis of the options available for ETN expiring on 30-Apr-2021, there is a 34.16% likelihood that the underlying will close within the analyzed range of $145.18-$147.43 at expiration. In this scenario, the average linear return for the trade would be 34.44%. 52 week high: EATON PUBLIC recently reached a new 52-week high at $145.89. ETN had traded in the range $70.54-$144.55 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 ETN maintains its current direction and does not revert back to pricing on the bearish side of $145.18 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 EATON PUBLIC closes at or above $145.10 on 30-Apr-2021. Based on our risk-neutral analysis, there is a 51.45% 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.