Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Synthetic Long Stock trade opportunity for BLUE APRON HOLDINGS INC (APRN) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APRN was recently trading at $12.90 and has an implied volatility of 167.14% for this period. Based on an analysis of the options available for APRN expiring on 17-Jul-2020, there is a 68.27% likelihood that the underlying will close within the analyzed range of $3.08-$54.36 at expiration. In this scenario, the average linear return for the trade would be 84.74%. Upside potential: This synthetic long position offers the same potential benefits and liabilities as a long stock position, but at a discount due to the significant premium at-the-money puts are trading at over calls. In this case, the put position is opened at a strike of $13.00, which is already $0.11 in-the-money. However, its sale more than offsets this moneyness and the cost of the long call that the trade results in a net credit of of $2.60 per share. The final position can be considered as having a discount of $2.50 per share over the underlying price of $12.90 for a 19.35% total. Downside risk: This discount is generally a sign of the stock facing considerable short pressure, and may indicate that the stock has become hard to borrow. However, if you have a long view of the underlying over this period, it could be a good opportunity to benefit from the upside at a major discount. To analyze this trade in depth, please visit the Quantcha Options Search Engine.