52-Week High Alert: Trading today’s movement in SIMON PROPERTY GROUP $SPG

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Quantchabot has detected a promising Bull Put Spread trade opportunity for SIMON PROPERTY GROUP (SPG) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

SPG was recently trading at $139.29 and has an implied volatility of 27.80% for this period. Based on an analysis of the options available for SPG expiring on 15-Oct-2021, there is a 34.16% likelihood that the underlying will close within the analyzed range of $139.29-$141.70 at expiration. In this scenario, the average linear return for the trade would be 24.34%.

52 week high: SIMON PROPERTY GROUP recently reached a new 52-week high at $139.32. SPG had traded in the range $59.35-$137.38 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 SPG maintains its current direction and does not revert back to pricing on the bearish side of $139.29 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 SIMON PROPERTY GROUP closes at or above $138.92 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 56.16% 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.