Big Gainer Alert: Trading today’s 8.2% move in DOXIMITY INC $DOCS

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Quantchabot has detected a promising Bull Put Spread trade opportunity for DOXIMITY INC (DOCS) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

DOCS was recently trading at $102.79 and has an implied volatility of 85.73% for this period. Based on an analysis of the options available for DOCS expiring on 15-Oct-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $102.80-$132.15 at expiration. In this scenario, the average linear return for the trade would be 84.30%.

Big 8.24% Change: After closing the last trading session at $94.96, DOXIMITY INC opened today at $95.78 and has reached a high of $103.34.

Trade approach: A movement as big as 8.24% is a significantly bullish indicator, so this trade is designed to be profitable if DOCS maintains its current direction and does not revert back to pricing on the bearish side of $102.79 on 15-Oct-2021. 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 DOXIMITY INC closes at or above $102.50 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 50.46% 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.