52-Week High Alert: Trading today’s movement in REMITLY GLOBAL INC. COMMON STOCK $RELY

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

RELY was recently trading at $25.99 and has an implied volatility of 38.69% for this period. Based on an analysis of the options available for RELY expiring on 20-Oct-2023, there is a 34.19% likelihood that the underlying will close within the analyzed range of $26.12-$29.32 at expiration. In this scenario, the average linear return for the trade would be 10.73%.

52 week high: REMITLY GLOBAL INC. COMMON STOCK recently reached a new 52-week high at $26.44. RELY had traded in the range $8.94-$25.80 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 RELY maintains its current direction and does not revert back to pricing on the bearish side of $25.99 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 REMITLY GLOBAL INC. COMMON STOCK closes at or above $26.10 on 20-Oct-2023. Based on our risk-neutral analysis, there is a 50.28% 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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