Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for NEUROCRINE BIOSCIENCES (NBIX) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NBIX was recently trading at $107.73 and has an implied volatility of 43.95% for this period. Based on an analysis of the options available for NBIX expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $107.74-$122.80 at expiration. In this scenario, the average linear return for the trade would be 29.79%. Big 7.31% Change: After closing the last trading session at $100.39, NEUROCRINE BIOSCIENCES opened today at $101.50 and has reached a high of $108.16. Trade approach: A movement as big as 7.31% is a significantly bullish indicator, so this trade is designed to be profitable if NBIX maintains its current direction and does not revert back to pricing on the bearish side of $107.73 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 NEUROCRINE BIOSCIENCES closes at or above $107.70 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 50.13% 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.