Quantchabot has detected a new Bull Call Spread trade opportunity for WAYSTAR HC. (WAY) for the 17-Jan-2025 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
WAY was recently trading at $37.14 and has an implied volatility of 43.39% for this period. Based on an analysis of the options available for WAY expiring on 17-Jan-2025, there is a 34.23% likelihood that the underlying will close within the analyzed range of $37.25-$41.71 at expiration. In this scenario, the average linear return for the trade would be 11.80%.
52 week high: WAYSTAR HC. recently reached a new 52-week high at $37.21. WAY had traded in the range $20.26-$37.11 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 WAY maintains its current direction and does not revert back to pricing on the bearish side of $37.14 on 17-Jan-2025. 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 WAYSTAR HC. closes at or above $36.70 on 17-Jan-2025. Based on our risk-neutral analysis, there is a 55.29% 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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