Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK (IOVA) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IOVA was recently trading at $34.97 and has an implied volatility of 108.90% for this period. Based on an analysis of the options available for IOVA expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $34.97-$48.36 at expiration. In this scenario, the average linear return for the trade would be 22.99%. Big 10.30% Change: After closing the last trading session at $31.70, IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK opened today at $33.00 and has reached a high of $35.15. Trade approach: A movement as big as 10.30% is a significantly bullish indicator, so this trade is designed to be profitable if IOVA maintains its current direction and does not revert back to pricing on the bearish side of $34.97 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 bullish strategy, the trade would be profitable if IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK closes at or above $34.70 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 50.95% 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.