Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for IMMUNOGEN (IMGN) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IMGN was recently trading at $4.48 and has an implied volatility of 130.24% for this period. Based on an analysis of the options available for IMGN expiring on 17-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $3.72-$4.48 at expiration. In this scenario, the average linear return for the trade would be 19.53%. Big -7.05% Change: After closing the last trading session at $4.82, IMMUNOGEN opened today at $4.73 and has reached a low of $4.31. Trade approach: A movement as big as -7.05% is a significantly bearish indicator, so this trade is designed to be profitable if IMGN maintains its current direction and does not revert back to pricing on the bullish side of $4.48 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 bearish strategy, the trade would be profitable if IMMUNOGEN closes at or below $4.58 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 54.74% 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.