Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for MGM RESORTS INTERNATIONAL (MGM) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MGM was recently trading at $16.38 and has an implied volatility of 74.74% for this period. Based on an analysis of the options available for MGM expiring on 17-Jul-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $16.38-$22.08 at expiration. In this scenario, the average linear return for the trade would be 76.72%. Big 8.01% Change: After closing the last trading session at $15.16, MGM RESORTS INTERNATIONAL opened today at $15.81 and has reached a high of $16.58. Trade approach: A movement as big as 8.01% is a significantly bullish indicator, so this trade is designed to be profitable if MGM maintains its current direction and does not revert back to pricing on the bearish side of $16.38 on 17-Jul-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if MGM RESORTS INTERNATIONAL closes at or above $16.13 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 52.03% 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.