Quantchabot has detected a new Bear Call Spread trade opportunity for AMGEN (AMGN) for the 23-Oct-2026 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.
AMGN was recently trading at $402.72 and has an implied volatility of 30.50% for this period. Based on an analysis of the options available for AMGN expiring on 23-Oct-2026, there is a 34.18% likelihood that the underlying will close within the analyzed range of $363.26-$404.67 at expiration. In this scenario, the average linear return for the trade would be 23.03%.
Big -7.89% Change: After closing the last trading session at $437.23, AMGEN opened today at $408.90 and has reached a low of $399.68.
Trade approach: A movement as big as -7.89% is a significantly bearish indicator, so this trade is designed to be profitable if AMGN maintains its current direction and does not revert back to pricing on the bullish side of $402.72 on 23-Oct-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 AMGEN closes at or below $404.95 on 23-Oct-2026. Based on our risk-neutral analysis, there is a 50.26% 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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