Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for CORECIVIC INC (CXW) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CXW was recently trading at $8.11 and has an implied volatility of 56.70% for this period. Based on an analysis of the options available for CXW expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $7.05-$8.11 at expiration. In this scenario, the average linear return for the trade would be 41.87%. 52 week low: CORECIVIC INC recently reached a new 52-week low at $7.82. CXW had traded in the range $8.10-$18.22 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 CXW maintains its current direction and does not revert back to pricing on the bullish side of $8.11 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 CORECIVIC INC closes at or below $8.30 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 56.54% 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.