Big Gainer Alert: Trading today’s 13.6% move in IDEAYA BIOSCIENCES INC. COMMON STOCK $IDYA

Quantchabot has detected a new Bull Put Spread trade opportunity for IDEAYA BIOSCIENCES INC. COMMON STOCK (IDYA) for the 19-Jul-2024 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

IDYA was recently trading at $38.92 and has an implied volatility of 81.04% for this period. Based on an analysis of the options available for IDYA expiring on 19-Jul-2024, there is a 34.31% likelihood that the underlying will close within the analyzed range of $39.00-$45.09 at expiration. In this scenario, the average linear return for the trade would be 13.05%.

Big 13.62% Change: After closing the last trading session at $34.26, IDEAYA BIOSCIENCES INC. COMMON STOCK opened today at $39.28 and has reached a high of $39.46.

Trade approach: A movement as big as 13.62% is a significantly bullish indicator, so this trade is designed to be profitable if IDYA maintains its current direction and does not revert back to pricing on the bearish side of $38.92 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 bullish strategy, the trade would be profitable if IDEAYA BIOSCIENCES INC. COMMON STOCK closes at or above $38.75 on 19-Jul-2024. Based on our risk-neutral analysis, there is a 51.74% 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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