Quantchabot has detected a new Bear Call Spread trade opportunity for PENUMBRA INC (PEN) for the 20-Feb-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
PEN was recently trading at $294.27 and has an implied volatility of 49.50% for this period. Based on an analysis of the options available for PEN expiring on 20-Feb-2026, there is a 34.20% likelihood that the underlying will close within the analyzed range of $251.44-$295.45 at expiration. In this scenario, the average linear return for the trade would be 52.35%.
Big -7.89% Change: After closing the last trading session at $319.47, PENUMBRA INC opened today at $317.77 and has reached a low of $290.00.
Trade approach: A movement as big as -7.89% is a significantly bearish indicator, so this trade is designed to be profitable if PEN maintains its current direction and does not revert back to pricing on the bullish side of $294.27 on 20-Feb-2026. 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 PENUMBRA INC closes at or below $295.60 on 20-Feb-2026. Based on our risk-neutral analysis, there is a 50.13% 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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