Quantchabot has detected a new Bull Call Spread trade opportunity for ON SEMICONDUCTOR CORP (ON) for the 1-May-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
ON was recently trading at $78.45 and has an implied volatility of 51.50% for this period. Based on an analysis of the options available for ON expiring on 1-May-2026, there is a 34.26% likelihood that the underlying will close within the analyzed range of $78.58-$87.43 at expiration. In this scenario, the average linear return for the trade would be 10.53%.
Big 8.31% Change: After closing the last trading session at $72.43, ON SEMICONDUCTOR CORP opened today at $74.36 and has reached a high of $78.53.
Trade approach: A movement as big as 8.31% is a significantly bullish indicator, so this trade is designed to be profitable if ON maintains its current direction and does not revert back to pricing on the bearish side of $78.45 on 1-May-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 ON SEMICONDUCTOR CORP closes at or above $77.56 on 1-May-2026. Based on our risk-neutral analysis, there is a 54.88% 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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