Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK (IOVA) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IOVA was recently trading at $26.99 and has an implied volatility of 81.61% for this period. Based on an analysis of the options available for IOVA expiring on 16-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $23.52-$26.99 at expiration. In this scenario, the average linear return for the trade would be 17.33%. Big -15.81% Change: After closing the last trading session at $32.06, IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK opened today at $25.00 and has reached a low of $24.67. Trade approach: A movement as big as -15.81% is a significantly bearish indicator, so this trade is designed to be profitable if IOVA maintains its current direction and does not revert back to pricing on the bullish side of $26.99 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 IOVANCE BIOTHERAPEUTICS INC. COMMON STOCK closes at or below $27.00 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 50.10% 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.