Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for TILRAY INC. CLASS 2 COMMON STOCK (TLRY) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TLRY was recently trading at $43.88 and has an implied volatility of 283.80% for this period. Based on an analysis of the options available for TLRY expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $17.93-$43.89 at expiration. In this scenario, the average linear return for the trade would be 856.84%. Big -31.34% Change: After closing the last trading session at $63.91, TILRAY INC. CLASS 2 COMMON STOCK opened today at $55.01 and has reached a low of $40.66. Trade approach: A movement as big as -31.34% is a significantly bearish indicator, so this trade is designed to be profitable if TLRY maintains its current direction and does not revert back to pricing on the bullish side of $43.88 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 TILRAY INC. CLASS 2 COMMON STOCK closes at or below $64.17 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 66.44% 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.