Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for OKTA INC. CL A COMMON STOCK (OKTA) for the 20-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. OKTA was recently trading at $212.38 and has an implied volatility of 58.87% for this period. Based on an analysis of the options available for OKTA expiring on 20-Nov-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $161.75-$212.45 at expiration. In this scenario, the average linear return for the trade would be 69.37%. Big -7.90% Change: After closing the last trading session at $230.60, OKTA INC. CL A COMMON STOCK opened today at $223.25 and has reached a low of $211.59. Trade approach: A movement as big as -7.90% is a significantly bearish indicator, so this trade is designed to be profitable if OKTA maintains its current direction and does not revert back to pricing on the bullish side of $212.38 on 20-Nov-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 OKTA INC. CL A COMMON STOCK closes at or below $219.37 on 20-Nov-2020. Based on our risk-neutral analysis, there is a 54.68% 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.