StockTwits Trending Alert: Trading recent interest in MAGNITE INC. COMMON STOCK $MGNI

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Quantchabot has detected a promising Bull Put Spread trade opportunity for MAGNITE INC. COMMON STOCK (MGNI) for the 19-Nov-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

MGNI was recently trading at $30.40 and has an implied volatility of 73.06% for this period. Based on an analysis of the options available for MGNI expiring on 19-Nov-2021, there is a 34.15% likelihood that the underlying will close within the analyzed range of $30.40-$38.36 at expiration. In this scenario, the average linear return for the trade would be 63.89%.

Trending on StockTwits: StockTwits® is a financial communications platform for the financial and investing community. On their site, MAGNITE INC. COMMON STOCK was recently trending, indicating that breaking news and/or market activity has significantly impacted sentiment toward the stock. This movement can be interpretted as a sign of more near-term price movement for the underlying.

Trade approach: The recent sentiment change in MGNI on StockTwits appears to be moderately positive, indicating that the stock is likely to follow in that direction for investors trading on sentiment. As a result, a bullish strategy could prove effective if the sentiment ultimately turns out to drive trading.

Upside potential: Using this bullish strategy, the trade would be profitable if MAGNITE INC. COMMON STOCK closed at or above $30.10 on 19-Nov-2021. Based on our analysis, there is a 51.72% 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.