Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for NOVAVAX (NVAX) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NVAX was recently trading at $77.52 and has an implied volatility of 112.57% for this period. Based on an analysis of the options available for NVAX expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $47.99-$77.54 at expiration. In this scenario, the average linear return for the trade would be 254.80%. Big -14.16% Change: After closing the last trading session at $90.31, NOVAVAX opened today at $85.30 and has reached a low of $77.36. Trade approach: A movement as big as -14.16% is a significantly bearish indicator, so this trade is designed to be profitable if NVAX maintains its current direction and does not revert back to pricing on the bullish side of $77.52 on 15-Jan-2021. 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 NOVAVAX closes at or below $114.51 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 79.18% 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.