Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for LEGEND BIOTECH CORPORATION (LEGN) for the 20-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. LEGN was recently trading at $44.22 and has an implied volatility of 59.84% for this period. Based on an analysis of the options available for LEGN expiring on 20-Aug-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $44.22-$52.84 at expiration. In this scenario, the average linear return for the trade would be 41.13%. 52 week high: LEGEND BIOTECH CORPORATION recently reached a new 52-week high at $44.25. LEGN had traded in the range $23.41-$42.74 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 LEGN maintains its current direction and does not revert back to pricing on the bearish side of $44.22 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 LEGEND BIOTECH CORPORATION closes at or above $44.00 on 20-Aug-2021. Based on our risk-neutral analysis, there is a 51.13% 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.