Quantchabot has detected a new Covered Call trade opportunity for PROGYNY INC. (PGNY) for the 21-Feb-2025 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
PGNY was recently trading at $16.34 and has an implied volatility of 55.66% for this period. Based on an analysis of the options available for PGNY expiring on 21-Feb-2025, there is a 34.18% likelihood that the underlying will close within the analyzed range of $16.45-$20.49 at expiration. In this scenario, the average linear return for the trade would be 11.55%.
Big 11.07% Change: After closing the last trading session at $14.71, PROGYNY INC. opened today at $15.81 and has reached a high of $16.85.
Trade approach: A movement as big as 11.07% is a significantly bullish indicator, so this trade is designed to be profitable if PGNY maintains its current direction and does not revert back to pricing on the bearish side of $16.34 on 21-Feb-2025. 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 PROGYNY INC. closes at or above $15.53 on 21-Feb-2025. Based on our risk-neutral analysis, there is a 60.40% 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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