Quantcha now offering unlimited commission-free options trading.
Quantchabot has detected a promising Bull Put Spread trade opportunity for O-I GLASS INC (OI) for the 17-Jan-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
OI was recently trading at $12.89 and has an implied volatility of 37.28% for this period. Based on an analysis of the options available for OI expiring on 17-Jan-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $12.90-$13.85 at expiration. In this scenario, the average linear return for the trade would be 16.79%.
Big 9.14% Change: After closing the last trading session at $11.81, O-I GLASS INC opened today at $12.19 and has reached a high of $12.89.
Trade approach: A movement as big as 9.14% is a significantly bullish indicator, so this trade is designed to be profitable if OI maintains its current direction and does not revert back to pricing on the bearish side of $12.89 on 17-Jan-2020. 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 O-I GLASS INC closes at or above $12.85 on 17-Jan-2020. Based on our risk-neutral analysis, there is a 52.05% 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.