Quantchabot has detected a new Covered Put trade opportunity for RENOVARO BIOSCIENCES INC. (RENB) for the 17-Jan-2025 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
RENB was recently trading at $1.37 and has an implied volatility of 182.89% for this period. Based on an analysis of the options available for RENB expiring on 17-Jan-2025, there is a 34.24% likelihood that the underlying will close within the analyzed range of $0.85-$1.37 at expiration. In this scenario, the average linear return for the trade would be 39.99%.
Big -16.46% Change: After closing the last trading session at $1.64, RENOVARO BIOSCIENCES INC. opened today at $1.64 and has reached a low of $1.32.
Trade approach: A movement as big as -16.46% is a significantly bearish indicator, so this trade is designed to be profitable if RENB maintains its current direction and does not revert back to pricing on the bullish side of $1.37 on 17-Jan-2025. 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 RENOVARO BIOSCIENCES INC. closes at or below $1.46 on 17-Jan-2025. Based on our risk-neutral analysis, there is a 54.99% 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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