Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for ATEA PHARMACEUTICALS INC. COMMON STOCK (AVIR) for the 21-May-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. AVIR was recently trading at $50.00 and has an implied volatility of 120.01% for this period. Based on an analysis of the options available for AVIR expiring on 21-May-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $34.25-$50.01 at expiration. In this scenario, the average linear return for the trade would be 31.64%. Big -8.39% Change: After closing the last trading session at $54.58, ATEA PHARMACEUTICALS INC. COMMON STOCK opened today at $54.58 and has reached a low of $49.35. Trade approach: A movement as big as -8.39% is a significantly bearish indicator, so this trade is designed to be profitable if AVIR maintains its current direction and does not revert back to pricing on the bullish side of $50.00 on 21-May-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 ATEA PHARMACEUTICALS INC. COMMON STOCK closes at or below $50.83 on 21-May-2021. Based on our risk-neutral analysis, there is a 51.72% 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.