Big Loser Alert: Trading today’s -8.1% move in IRHYTHM TECHNOLOGIES INC. COMMON STOCK $IRTC

Quantchabot has detected a promising Bear Call Spread trade opportunity for IRHYTHM TECHNOLOGIES INC. COMMON STOCK (IRTC) for the 21-Oct-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

IRTC was recently trading at $142.91 and has an implied volatility of 57.80% for this period. Based on an analysis of the options available for IRTC expiring on 21-Oct-2022, there is a 34.20% likelihood that the underlying will close within the analyzed range of $121.11-$143.22 at expiration. In this scenario, the average linear return for the trade would be 27.15%.

Big -8.06% Change: After closing the last trading session at $155.44, IRHYTHM TECHNOLOGIES INC. COMMON STOCK opened today at $154.78 and has reached a low of $140.39.

Trade approach: A movement as big as -8.06% is a significantly bearish indicator, so this trade is designed to be profitable if IRTC maintains its current direction and does not revert back to pricing on the bullish side of $142.91 on 21-Oct-2022. If possible, the trade has been padded such that slight movement against the trade would still return a profit.

Upside potential: Using this bearish strategy, the trade would be profitable if IRHYTHM TECHNOLOGIES INC. COMMON STOCK closes at or below $144.00 on 21-Oct-2022. Based on our risk-neutral analysis, there is a 51.29% 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.