Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for CMC MATERIALS INC (CCMP) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CCMP was recently trading at $155.46 and has an implied volatility of 40.48% for this period. Based on an analysis of the options available for CCMP expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $131.19-$155.50 at expiration. In this scenario, the average linear return for the trade would be 28.18%. Big -8.03% Change: After closing the last trading session at $169.04, CMC MATERIALS INC opened today at $160.00 and has reached a low of $154.06. Trade approach: A movement as big as -8.03% is a significantly bearish indicator, so this trade is designed to be profitable if CCMP maintains its current direction and does not revert back to pricing on the bullish side of $155.46 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 CMC MATERIALS INC closes at or below $156.00 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 50.75% 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.