Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for EMPIRE STATE REALTY TRUST INC (ESRT) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ESRT was recently trading at $6.26 and has an implied volatility of 97.47% for this period. Based on an analysis of the options available for ESRT expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $4.69-$6.26 at expiration. In this scenario, the average linear return for the trade would be 25.44%. 52 week low: EMPIRE STATE REALTY TRUST INC recently reached a new 52-week low at $5.95. ESRT had traded in the range $6.01-$14.99 over the past year. Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if ESRT maintains its current direction and does not revert back to pricing on the bullish side of $6.26 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 EMPIRE STATE REALTY TRUST INC closes at or below $6.31 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 51.08% 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.