Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for RINGCENTRAL INC. (RNG) for the 30-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RNG was recently trading at $232.11 and has an implied volatility of 57.80% for this period. Based on an analysis of the options available for RNG expiring on 30-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $190.24-$232.15 at expiration. In this scenario, the average linear return for the trade would be 49.70%. Big -9.49% Change: After closing the last trading session at $256.46, RINGCENTRAL INC. opened today at $251.00 and has reached a low of $231.88. Trade approach: A movement as big as -9.49% is a significantly bearish indicator, so this trade is designed to be profitable if RNG maintains its current direction and does not revert back to pricing on the bullish side of $232.11 on 30-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 RINGCENTRAL INC. closes at or below $232.40 on 30-Oct-2020. Based on our risk-neutral analysis, there is a 50.21% 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.