Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for NETFLIX (NFLX) for the 18-Sep-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NFLX was recently trading at $490.08 and has an implied volatility of 44.67% for this period. Based on an analysis of the options available for NFLX expiring on 18-Sep-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $407.05-$490.23 at expiration. In this scenario, the average linear return for the trade would be 71.79%. Big -7.07% Change: After closing the last trading session at $527.39, NETFLIX opened today at $494.87 and has reached a low of $484.14. Trade approach: A movement as big as -7.07% is a significantly bearish indicator, so this trade is designed to be profitable if NFLX maintains its current direction and does not revert back to pricing on the bullish side of $490.08 on 18-Sep-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 NETFLIX closes at or below $492.90 on 18-Sep-2020. Based on our risk-neutral analysis, there is a 51.16% 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.