Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for STRYKER (SYK) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SYK was recently trading at $129.00 and has an implied volatility of 108.85% for this period. Based on an analysis of the options available for SYK expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $96.55-$128.51 at expiration. In this scenario, the average linear return for the trade would be 64.15%. Big -7.45% Change: After closing the last trading session at $139.38, STRYKER opened today at $136.17 and has reached a low of $125.71. Trade approach: A movement as big as -7.45% is a significantly bearish indicator, so this trade is designed to be profitable if SYK maintains its current direction and does not revert back to pricing on the bullish side of $129.00 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 STRYKER closes at or below $131.65 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 53.37% 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.