Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for NATIONAL OILWELL VARCO INC. (NOV) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NOV was recently trading at $13.71 and has an implied volatility of 52.19% for this period. Based on an analysis of the options available for NOV expiring on 29-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $12.57-$13.72 at expiration. In this scenario, the average linear return for the trade would be 39.47%. Big -7.02% Change: After closing the last trading session at $14.75, NATIONAL OILWELL VARCO INC. opened today at $13.64 and has reached a low of $13.47. Trade approach: A movement as big as -7.02% is a significantly bearish indicator, so this trade is designed to be profitable if NOV maintains its current direction and does not revert back to pricing on the bullish side of $13.71 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 NATIONAL OILWELL VARCO INC. closes at or below $13.80 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 52.80% 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.