Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for STERIS PLC (STE) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. STE was recently trading at $177.40 and has an implied volatility of 29.48% for this period. Based on an analysis of the options available for STE expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $159.74-$177.02 at expiration. In this scenario, the average linear return for the trade would be 30.30%. Big -7.16% Change: After closing the last trading session at $191.08, STERIS PLC opened today at $189.04 and has reached a low of $176.56. Trade approach: A movement as big as -7.16% is a significantly bearish indicator, so this trade is designed to be profitable if STE maintains its current direction and does not revert back to pricing on the bullish side of $177.40 on 19-Mar-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 STERIS PLC closes at or below $177.05 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 50.06% 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.