52-Week Low Alert: Trading today’s movement in TC ENERGY CORP $TRP

Quantchabot has detected a promising Bear Call Spread trade opportunity for TC ENERGY CORP (TRP) for the 21-Apr-2023 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

TRP was recently trading at $37.40 and has an implied volatility of 31.68% for this period. Based on an analysis of the options available for TRP expiring on 21-Apr-2023, there is a 34.19% likelihood that the underlying will close within the analyzed range of $33.30-$36.87 at expiration. In this scenario, the average linear return for the trade would be 55.89%.

52 week low: TC ENERGY CORP recently reached a new 52-week low at $37.31. TRP had traded in the range $38.35-$59.38 over the past year.

Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if TRP maintains its current direction and does not revert back to pricing on the bullish side of $37.40 on 21-Apr-2023. 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 TC ENERGY CORP closes at or below $37.15 on 21-Apr-2023. Based on our risk-neutral analysis, there is a 52.94% 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.






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