Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for QUIDEL (QDEL) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. QDEL was recently trading at $162.57 and has an implied volatility of 92.75% for this period. Based on an analysis of the options available for QDEL expiring on 16-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $117.27-$162.60 at expiration. In this scenario, the average linear return for the trade would be 232.83%. Big -7.61% Change: After closing the last trading session at $175.96, QUIDEL opened today at $177.30 and has reached a low of $161.21. Trade approach: A movement as big as -7.61% is a significantly bearish indicator, so this trade is designed to be profitable if QDEL maintains its current direction and does not revert back to pricing on the bullish side of $162.57 on 16-Oct-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 QUIDEL closes at or below $242.70 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 88.98% 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.