Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for CDK GLOBAL INC. COMMON STOCK (CDK) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CDK was recently trading at $50.29 and has an implied volatility of 33.14% for this period. Based on an analysis of the options available for CDK expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $45.18-$50.30 at expiration. In this scenario, the average linear return for the trade would be 20.21%. Big -8.81% Change: After closing the last trading session at $55.15, CDK GLOBAL INC. COMMON STOCK opened today at $51.43 and has reached a low of $49.10. Trade approach: A movement as big as -8.81% is a significantly bearish indicator, so this trade is designed to be profitable if CDK maintains its current direction and does not revert back to pricing on the bullish side of $50.29 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 CDK GLOBAL INC. COMMON STOCK closes at or below $50.85 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 54.06% 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.