Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for KENSIGNTON CAPITAL ACQUISITION CORP (QS) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. QS was recently trading at $52.32 and has an implied volatility of 178.45% for this period. Based on an analysis of the options available for QS expiring on 29-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $32.69-$52.33 at expiration. In this scenario, the average linear return for the trade would be 1079.37%. Big -38.05% Change: After closing the last trading session at $84.45, KENSIGNTON CAPITAL ACQUISITION CORP opened today at $58.87 and has reached a low of $50.31. Trade approach: A movement as big as -38.05% is a significantly bearish indicator, so this trade is designed to be profitable if QS maintains its current direction and does not revert back to pricing on the bullish side of $52.32 on 29-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 KENSIGNTON CAPITAL ACQUISITION CORP closes at or below $78.10 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 80.28% 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.