Quantchabot has detected a new Bear Call Spread trade opportunity for ON SEMICONDUCTOR CORP (ON) for the 31-Jul-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
ON was recently trading at $117.27 and has an implied volatility of 80.94% for this period. Based on an analysis of the options available for ON expiring on 31-Jul-2026, there is a 34.19% likelihood that the underlying will close within the analyzed range of $90.50-$117.73 at expiration. In this scenario, the average linear return for the trade would be 40.77%.
Big -10.86% Change: After closing the last trading session at $131.55, ON SEMICONDUCTOR CORP opened today at $123.23 and has reached a low of $117.26.
Trade approach: A movement as big as -10.86% is a significantly bearish indicator, so this trade is designed to be profitable if ON maintains its current direction and does not revert back to pricing on the bullish side of $117.27 on 31-Jul-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 ON SEMICONDUCTOR CORP closes at or below $118.26 on 31-Jul-2026. Based on our risk-neutral analysis, there is a 50.68% 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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