Big Gainer Alert: Trading today’s 7.1% move in ARRAY TECHNOLOGIES INC. COMMON STOCK $ARRY

Quantchabot has detected a promising Bull Call Spread trade opportunity for ARRAY TECHNOLOGIES INC. COMMON STOCK (ARRY) for the 20-Oct-2023 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

ARRY was recently trading at $25.17 and has an implied volatility of 49.11% for this period. Based on an analysis of the options available for ARRY expiring on 20-Oct-2023, there is a 34.18% likelihood that the underlying will close within the analyzed range of $25.32-$29.71 at expiration. In this scenario, the average linear return for the trade would be 11.73%.

Big 7.06% Change: After closing the last trading session at $23.51, ARRAY TECHNOLOGIES INC. COMMON STOCK opened today at $23.84 and has reached a high of $25.29.

Trade approach: A movement as big as 7.06% is a significantly bullish indicator, so this trade is designed to be profitable if ARRY maintains its current direction and does not revert back to pricing on the bearish side of $25.17 on 20-Oct-2023. 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 ARRAY TECHNOLOGIES INC. COMMON STOCK closes at or above $24.95 on 20-Oct-2023. Based on our risk-neutral analysis, there is a 53.68% 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.






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