52-Week High Alert: Trading today’s movement in GLYCOMIMETICS INC. COMMON STO $GLYC

Quantchabot has detected a promising Covered Call trade opportunity for GLYCOMIMETICS INC. COMMON STO (GLYC) for the 17-Feb-2023 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

GLYC was recently trading at $3.48 and has an implied volatility of 148.52% for this period. Based on an analysis of the options available for GLYC expiring on 17-Feb-2023, there is a 34.24% likelihood that the underlying will close within the analyzed range of $3.49-$5.10 at expiration. In this scenario, the average linear return for the trade would be 21.95%.

52 week high: GLYCOMIMETICS INC. COMMON STO recently reached a new 52-week high at $3.48. GLYC had traded in the range $0.51-$3.30 over the past year.

Trade approach: Reaching a new 52-week high is a bullish indicator, so this trade is designed to be profitable if GLYC maintains its current direction and does not revert back to pricing on the bearish side of $3.48 on 17-Feb-2023. 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 GLYCOMIMETICS INC. COMMON STO closes at or above $3.42 on 17-Feb-2023. Based on our risk-neutral analysis, there is a 52.16% 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.