Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for NEW RELIC INC (NEWR) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NEWR was recently trading at $68.53 and has an implied volatility of 47.00% for this period. Based on an analysis of the options available for NEWR expiring on 19-Mar-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $58.41-$68.54 at expiration. In this scenario, the average linear return for the trade would be 45.50%. Big -15.15% Change: After closing the last trading session at $80.77, NEW RELIC INC opened today at $67.00 and has reached a low of $64.98. Trade approach: A movement as big as -15.15% is a significantly bearish indicator, so this trade is designed to be profitable if NEWR maintains its current direction and does not revert back to pricing on the bullish side of $68.53 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 NEW RELIC INC closes at or below $68.60 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 50.20% 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.