Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for MCKESSON (MCK) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MCK was recently trading at $170.56 and has an implied volatility of 31.63% for this period. Based on an analysis of the options available for MCK expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $149.81-$170.18 at expiration. In this scenario, the average linear return for the trade would be 58.34%. Big -7.13% Change: After closing the last trading session at $183.66, MCKESSON opened today at $178.02 and has reached a low of $170.36. Trade approach: A movement as big as -7.13% is a significantly bearish indicator, so this trade is designed to be profitable if MCK maintains its current direction and does not revert back to pricing on the bullish side of $170.56 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 MCKESSON closes at or below $171.00 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 51.50% 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.