Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for CVS HEALTH CORP (CVS) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CVS was recently trading at $67.70 and has an implied volatility of 28.57% for this period. Based on an analysis of the options available for CVS expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $60.35-$67.72 at expiration. In this scenario, the average linear return for the trade would be 68.76%. Big -7.85% Change: After closing the last trading session at $73.47, CVS HEALTH CORP opened today at $68.25 and has reached a low of $67.26. Trade approach: A movement as big as -7.85% is a significantly bearish indicator, so this trade is designed to be profitable if CVS maintains its current direction and does not revert back to pricing on the bullish side of $67.70 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 CVS HEALTH CORP closes at or below $68.39 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 53.43% 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.