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Quantchabot has detected a promising Bull Put Spread trade opportunity for SYNEOS HEALTH INC. CLASS A COMMON STOCK (SYNH) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
SYNH was recently trading at $96.10 and has an implied volatility of 25.77% for this period. Based on an analysis of the options available for SYNH expiring on 15-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $96.11-$103.65 at expiration. In this scenario, the average linear return for the trade would be 24.36%.
52 week high: SYNEOS HEALTH INC. CLASS A COMMON STOCK recently reached a new 52-week high at $97.47. SYNH had traded in the range $50.27-$95.56 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 SYNH maintains its current direction and does not revert back to pricing on the bearish side of $96.10 on 15-Oct-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 SYNEOS HEALTH INC. CLASS A COMMON STOCK closes at or above $96.10 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 50.04% 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.