Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for HIMAX TECHNOLOGIES (HIMX) for the 12-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. HIMX was recently trading at $7.52 and has an implied volatility of 92.16% for this period. Based on an analysis of the options available for HIMX expiring on 12-Feb-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $5.48-$7.52 at expiration. In this scenario, the average linear return for the trade would be 21.67%. Big -7.84% Change: After closing the last trading session at $8.16, HIMAX TECHNOLOGIES opened today at $8.04 and has reached a low of $7.26. Trade approach: A movement as big as -7.84% is a significantly bearish indicator, so this trade is designed to be profitable if HIMX maintains its current direction and does not revert back to pricing on the bullish side of $7.52 on 12-Feb-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 HIMAX TECHNOLOGIES closes at or below $7.57 on 12-Feb-2021. Based on our risk-neutral analysis, there is a 50.81% 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.