Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for TRICIDA INC (TCDA) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TCDA was recently trading at $16.95 and has an implied volatility of 235.16% for this period. Based on an analysis of the options available for TCDA expiring on 17-Jul-2020, there is a 34.16% likelihood that the underlying will close within the analyzed range of $14.68-$16.95 at expiration. In this scenario, the average linear return for the trade would be 13.53%. Big -35.32% Change: After closing the last trading session at $26.20, TRICIDA INC opened today at $17.68 and has reached a low of $16.25. Trade approach: A movement as big as -35.32% is a significantly bearish indicator, so this trade is designed to be profitable if TCDA maintains its current direction and does not revert back to pricing on the bullish side of $16.95 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 TRICIDA INC closes at or below $17.03 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 51.39% 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.