Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for APPIAN CORPORATION CLASS A COMMON STOCK (APPN) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APPN was recently trading at $201.04 and has an implied volatility of 85.01% for this period. Based on an analysis of the options available for APPN expiring on 16-Apr-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $144.00-$201.08 at expiration. In this scenario, the average linear return for the trade would be 59.24%. Big -7.20% Change: After closing the last trading session at $216.65, APPIAN CORPORATION CLASS A COMMON STOCK opened today at $210.99 and has reached a low of $192.19. Trade approach: A movement as big as -7.20% is a significantly bearish indicator, so this trade is designed to be profitable if APPN maintains its current direction and does not revert back to pricing on the bullish side of $201.04 on 16-Apr-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 APPIAN CORPORATION CLASS A COMMON STOCK closes at or below $202.70 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 50.96% 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.