Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for COCA-COLA EUROPACIFIC PARTNERS PLC (CCEP) for the 20-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CCEP was recently trading at $61.36 and has an implied volatility of 24.75% for this period. Based on an analysis of the options available for CCEP expiring on 20-Aug-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $61.37-$68.57 at expiration. In this scenario, the average linear return for the trade would be 29.33%. 52 week high: COCA-COLA EUROPACIFIC PARTNERS PLC recently reached a new 52-week high at $62.38. CCEP had traded in the range $34.02-$61.99 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 CCEP maintains its current direction and does not revert back to pricing on the bearish side of $61.36 on 20-Aug-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 COCA-COLA EUROPACIFIC PARTNERS PLC closes at or above $60.75 on 20-Aug-2021. Based on our risk-neutral analysis, there is a 53.65% 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.