Big Loser Alert: Trading today’s -7.0% move in ARRAY TECHNOLOGIES INC. COMMON STOCK $ARRY

Quantchabot has detected a new Bear Call Spread trade opportunity for ARRAY TECHNOLOGIES INC. COMMON STOCK (ARRY) for the 19-Jul-2024 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

ARRY was recently trading at $13.01 and has an implied volatility of 60.52% for this period. Based on an analysis of the options available for ARRY expiring on 19-Jul-2024, there is a 34.19% likelihood that the underlying will close within the analyzed range of $10.74-$13.08 at expiration. In this scenario, the average linear return for the trade would be 102.49%.

Big -7.04% Change: After closing the last trading session at $13.99, ARRAY TECHNOLOGIES INC. COMMON STOCK opened today at $12.90 and has reached a low of $12.28.

Trade approach: A movement as big as -7.04% is a significantly bearish indicator, so this trade is designed to be profitable if ARRY maintains its current direction and does not revert back to pricing on the bullish side of $13.01 on 19-Jul-2024. 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 ARRAY TECHNOLOGIES INC. COMMON STOCK closes at or below $13.35 on 19-Jul-2024. Based on our risk-neutral analysis, there is a 54.10% 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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