Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for TRANSOCEAN (RIG) for the 30-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RIG was recently trading at $3.85 and has an implied volatility of 92.61% for this period. Based on an analysis of the options available for RIG expiring on 30-Jul-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $3.85-$4.46 at expiration. In this scenario, the average linear return for the trade would be 53.39%. Big 12.19% Change: After closing the last trading session at $3.43, TRANSOCEAN opened today at $3.55 and has reached a high of $3.90. Trade approach: A movement as big as 12.19% is a significantly bullish indicator, so this trade is designed to be profitable if RIG maintains its current direction and does not revert back to pricing on the bearish side of $3.85 on 30-Jul-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 TRANSOCEAN closes at or above $3.81 on 30-Jul-2021. Based on our risk-neutral analysis, there is a 52.69% 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.