Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for GREENHILL & CO (GHL) for the 18-Sep-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. GHL was recently trading at $10.01 and has an implied volatility of 65.82% for this period. Based on an analysis of the options available for GHL expiring on 18-Sep-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $7.69-$9.96 at expiration. In this scenario, the average linear return for the trade would be 24.48%. Big -12.35% Change: After closing the last trading session at $11.42, GREENHILL & CO opened today at $10.71 and has reached a low of $10.00. Trade approach: A movement as big as -12.35% is a significantly bearish indicator, so this trade is designed to be profitable if GHL maintains its current direction and does not revert back to pricing on the bullish side of $10.01 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 GREENHILL & CO closes at or below $10.06 on 18-Sep-2020. Based on our risk-neutral analysis, there is a 51.50% 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.