Quantchabot has detected a new Bull Put Spread trade opportunity for IONIS PHARMACEUTICALS INC. (IONS) for the 20-Feb-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
IONS was recently trading at $86.31 and has an implied volatility of 41.52% for this period. Based on an analysis of the options available for IONS expiring on 20-Feb-2026, there is a 34.29% likelihood that the underlying will close within the analyzed range of $86.45-$94.24 at expiration. In this scenario, the average linear return for the trade would be 11.11%.
52 week high: IONIS PHARMACEUTICALS INC. recently reached a new 52-week high at $86.74. IONS had traded in the range $23.95-$86.15 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 IONS maintains its current direction and does not revert back to pricing on the bearish side of $86.31 on 20-Feb-2026. 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 IONIS PHARMACEUTICALS INC. closes at or above $84.00 on 20-Feb-2026. Based on our risk-neutral analysis, there is a 63.10% 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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