Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for WALGREEN BOOTS ALLIANCE INC. (WBA) for the 31-Dec-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. WBA was recently trading at $40.34 and has an implied volatility of 35.41% for this period. Based on an analysis of the options available for WBA expiring on 31-Dec-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $35.25-$39.88 at expiration. In this scenario, the average linear return for the trade would be 14.42%. Big -8.52% Change: After closing the last trading session at $44.10, WALGREEN BOOTS ALLIANCE INC. opened today at $39.91 and has reached a low of $39.56. Trade approach: A movement as big as -8.52% is a significantly bearish indicator, so this trade is designed to be profitable if WBA maintains its current direction and does not revert back to pricing on the bullish side of $40.34 on 31-Dec-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 WALGREEN BOOTS ALLIANCE INC. closes at or below $40.63 on 31-Dec-2020. Based on our risk-neutral analysis, there is a 56.01% 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.