Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for VIRGIN GALACTIC HOLDINGS INC (SPCE) for the 6-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. SPCE was recently trading at $34.46 and has an implied volatility of 118.84% for this period. Based on an analysis of the options available for SPCE expiring on 6-Aug-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $25.52-$34.46 at expiration. In this scenario, the average linear return for the trade would be 140.92%. Big -8.75% Change: After closing the last trading session at $37.76, VIRGIN GALACTIC HOLDINGS INC opened today at $37.27 and has reached a low of $34.32. Trade approach: A movement as big as -8.75% is a significantly bearish indicator, so this trade is designed to be profitable if SPCE maintains its current direction and does not revert back to pricing on the bullish side of $34.46 on 6-Aug-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 VIRGIN GALACTIC HOLDINGS INC closes at or below $51.40 on 6-Aug-2021. Based on our risk-neutral analysis, there is a 90.84% 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.