Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for WALT DISNEY (DIS) for the 8-May-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. DIS was recently trading at $96.47 and has an implied volatility of 78.34% for this period. Based on an analysis of the options available for DIS expiring on 8-May-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $73.94-$96.57 at expiration. In this scenario, the average linear return for the trade would be 77.78%. Big -8.44% Change: After closing the last trading session at $105.36, WALT DISNEY opened today at $100.45 and has reached a low of $95.54. Trade approach: A movement as big as -8.44% is a significantly bearish indicator, so this trade is designed to be profitable if DIS maintains its current direction and does not revert back to pricing on the bullish side of $96.47 on 8-May-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 WALT DISNEY closes at or below $96.70 on 8-May-2020. Based on our risk-neutral analysis, there is a 50.20% 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.