Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for INTERNATIONAL BUSINESS MACHINE (IBM) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IBM was recently trading at $127.16 and has an implied volatility of 38.44% for this period. Based on an analysis of the options available for IBM expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $111.27-$127.44 at expiration. In this scenario, the average linear return for the trade would be 62.15%. 52 week low: INTERNATIONAL BUSINESS MACHINE recently reached a new 52-week low at $126.54. IBM had traded in the range $126.85-$158.75 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 IBM maintains its current direction and does not revert back to pricing on the bullish side of $127.16 on 17-Apr-2020. 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 INTERNATIONAL BUSINESS MACHINE closes at or below $128.95 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 53.46% 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.