Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for NEUROCRINE BIOSCIENCES (NBIX) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NBIX was recently trading at $110.44 and has an implied volatility of 58.28% for this period. Based on an analysis of the options available for NBIX expiring on 15-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $110.44-$119.94 at expiration. In this scenario, the average linear return for the trade would be 15.67%. Big 7.41% Change: After closing the last trading session at $102.82, NEUROCRINE BIOSCIENCES opened today at $104.00 and has reached a high of $111.23. Trade approach: A movement as big as 7.41% is a significantly bullish indicator, so this trade is designed to be profitable if NBIX maintains its current direction and does not revert back to pricing on the bearish side of $110.44 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 bullish strategy, the trade would be profitable if NEUROCRINE BIOSCIENCES closes at or above $110.15 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 51.28% 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.