Quantchabot has detected a promising Bear Call Spread trade opportunity for SYMBOTIC INC. CLASS A COMMON STOCK (SYM) for the 17-Nov-2023 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
SYM was recently trading at $42.90 and has an implied volatility of 77.91% for this period. Based on an analysis of the options available for SYM expiring on 17-Nov-2023, there is a 34.20% likelihood that the underlying will close within the analyzed range of $34.39-$43.11 at expiration. In this scenario, the average linear return for the trade would be 32.21%.
Big -7.32% Change: After closing the last trading session at $46.29, SYMBOTIC INC. CLASS A COMMON STOCK opened today at $45.32 and has reached a low of $42.75.
Trade approach: A movement as big as -7.32% is a significantly bearish indicator, so this trade is designed to be profitable if SYM maintains its current direction and does not revert back to pricing on the bullish side of $42.90 on 17-Nov-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 SYMBOTIC INC. CLASS A COMMON STOCK closes at or below $43.20 on 17-Nov-2023. Based on our risk-neutral analysis, there is a 50.39% 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.