Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for ILLUMINA (ILMN) for the 23-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ILMN was recently trading at $327.23 and has an implied volatility of 40.70% for this period. Based on an analysis of the options available for ILMN expiring on 23-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $287.39-$327.28 at expiration. In this scenario, the average linear return for the trade would be 43.46%. Big -7.09% Change: After closing the last trading session at $352.19, ILLUMINA opened today at $355.19 and has reached a low of $326.74. Trade approach: A movement as big as -7.09% is a significantly bearish indicator, so this trade is designed to be profitable if ILMN maintains its current direction and does not revert back to pricing on the bullish side of $327.23 on 23-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 ILLUMINA closes at or below $327.30 on 23-Oct-2020. Based on our risk-neutral analysis, there is a 50.02% 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.