Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for SORRENTO THERAPEUTICS INC. C (SRNE) for the 27-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SRNE was recently trading at $8.24 and has an implied volatility of 154.09% for this period. Based on an analysis of the options available for SRNE expiring on 27-Nov-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $5.00-$8.24 at expiration. In this scenario, the average linear return for the trade would be 52.50%. Big -7.31% Change: After closing the last trading session at $8.89, SORRENTO THERAPEUTICS INC. C opened today at $8.90 and has reached a low of $8.22. Trade approach: A movement as big as -7.31% is a significantly bearish indicator, so this trade is designed to be profitable if SRNE maintains its current direction and does not revert back to pricing on the bullish side of $8.24 on 27-Nov-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 SORRENTO THERAPEUTICS INC. C closes at or below $9.65 on 27-Nov-2020. Based on our risk-neutral analysis, there is a 62.39% 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.