Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for BIONANO GENOMICS INC. COMMON STOCK (BNGO) for the 21-May-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BNGO was recently trading at $7.04 and has an implied volatility of 131.95% for this period. Based on an analysis of the options available for BNGO expiring on 21-May-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $5.01-$7.04 at expiration. In this scenario, the average linear return for the trade would be 74.06%. Big -7.61% Change: After closing the last trading session at $7.62, BIONANO GENOMICS INC. COMMON STOCK opened today at $7.56 and has reached a low of $6.86. Trade approach: A movement as big as -7.61% is a significantly bearish indicator, so this trade is designed to be profitable if BNGO maintains its current direction and does not revert back to pricing on the bullish side of $7.04 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 BIONANO GENOMICS INC. COMMON STOCK closes at or below $7.37 on 21-May-2021. Based on our risk-neutral analysis, there is a 55.34% 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.