Quantchabot has detected a new Bear Call Spread trade opportunity for LEGEND BIOTECH CORPORATION (LEGN) for the 20-Feb-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
LEGN was recently trading at $19.12 and has an implied volatility of 69.19% for this period. Based on an analysis of the options available for LEGN expiring on 20-Feb-2026, there is a 34.23% likelihood that the underlying will close within the analyzed range of $15.80-$19.18 at expiration. In this scenario, the average linear return for the trade would be 42.66%.
52 week low: LEGEND BIOTECH CORPORATION recently reached a new 52-week low at $19.03. LEGN had traded in the range $19.61-$45.30 over the past year.
Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if LEGN maintains its current direction and does not revert back to pricing on the bullish side of $19.12 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 LEGEND BIOTECH CORPORATION closes at or below $20.45 on 20-Feb-2026. Based on our risk-neutral analysis, there is a 63.02% 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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