Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for SORRENTO THERAPEUTICS INC. C (SRNE) for the 21-Aug-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SRNE was recently trading at $12.01 and has an implied volatility of 210.73% for this period. Based on an analysis of the options available for SRNE expiring on 21-Aug-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $8.90-$12.01 at expiration. In this scenario, the average linear return for the trade would be 66.87%. Big -7.72% Change: After closing the last trading session at $13.01, SORRENTO THERAPEUTICS INC. C opened today at $12.48 and has reached a low of $11.70. Trade approach: A movement as big as -7.72% is a significantly bearish indicator, so this trade is designed to be profitable if SRNE maintains its current direction and does not revert back to pricing on the bullish side of $12.01 on 21-Aug-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 SORRENTO THERAPEUTICS INC. C closes at or below $12.35 on 21-Aug-2020. Based on our risk-neutral analysis, there is a 53.77% 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.