Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for BANK OF AMERICA CORP (BAC) for the 9-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BAC was recently trading at $22.96 and has an implied volatility of 111.99% for this period. Based on an analysis of the options available for BAC expiring on 9-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $16.67-$22.98 at expiration. In this scenario, the average linear return for the trade would be 35.43%. Big -10.70% Change: After closing the last trading session at $25.71, BANK OF AMERICA CORP opened today at $22.23 and has reached a low of $21.75. Trade approach: A movement as big as -10.70% is a significantly bearish indicator, so this trade is designed to be profitable if BAC maintains its current direction and does not revert back to pricing on the bullish side of $22.96 on 9-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 BANK OF AMERICA CORP closes at or below $23.10 on 9-Apr-2020. Based on our risk-neutral analysis, there is a 50.65% 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.