Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for GILEAD SCIENCES (GILD) for the 23-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. GILD was recently trading at $61.44 and has an implied volatility of 24.26% for this period. Based on an analysis of the options available for GILD expiring on 23-Oct-2020, there is a 34.15% likelihood that the underlying will close within the analyzed range of $59.83-$61.44 at expiration. In this scenario, the average linear return for the trade would be 44.33%. 52 week low: GILEAD SCIENCES recently reached a new 52-week low at $61.35. GILD had traded in the range $61.65-$85.97 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 GILD maintains its current direction and does not revert back to pricing on the bullish side of $61.44 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 GILEAD SCIENCES closes at or below $61.51 on 23-Oct-2020. Based on our risk-neutral analysis, there is a 51.68% 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.