StockTwits Trending Alert: Trading recent interest in ALIGN TECHNOLOGY $ALGN

Quantchabot has detected a promising Covered Put trade opportunity for ALIGN TECHNOLOGY (ALGN) for the 19-Jan-2024 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

ALGN was recently trading at $293.73 and has an implied volatility of 47.92% for this period. Based on an analysis of the options available for ALGN expiring on 19-Jan-2024, there is a 30.96% likelihood that the underlying will close within the analyzed range of $172.37-$293.73 at expiration. In this scenario, the average linear return for the trade would be 1124.86%.

Trending on StockTwits: StockTwits® is a financial communications platform for the financial and investing community. On their site, ALIGN TECHNOLOGY 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 ALGN on StockTwits appears to be moderately negative, indicating that the stock is likely to follow in that direction for investors trading on sentiment. As a result, a bearish strategy could prove effective if the sentiment ultimately turns out to drive trading.

Upside potential: Using this bearish strategy, the trade would be profitable if ALIGN TECHNOLOGY closed at or below $439.73 on 19-Jan-2024. Based on our analysis, there is a 73.14% 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.