Quantchabot has detected a new Bull Put Spread trade opportunity for SUMMIT THERAPEUTICS PLC AMERIC (SMMT) for the 24-Apr-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
SMMT was recently trading at $22.84 and has an implied volatility of 86.06% for this period. Based on an analysis of the options available for SMMT expiring on 24-Apr-2026, there is a 34.38% likelihood that the underlying will close within the analyzed range of $22.87-$26.12 at expiration. In this scenario, the average linear return for the trade would be 12.50%.
Big 8.17% Change: After closing the last trading session at $21.12, SUMMIT THERAPEUTICS PLC AMERIC opened today at $21.26 and has reached a high of $23.28.
Trade approach: A movement as big as 8.17% is a significantly bullish indicator, so this trade is designed to be profitable if SMMT maintains its current direction and does not revert back to pricing on the bearish side of $22.84 on 24-Apr-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 SUMMIT THERAPEUTICS PLC AMERIC closes at or above $22.00 on 24-Apr-2026. Based on our risk-neutral analysis, there is a 61.52% 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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