Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for ASCENDIS PHARMA A/S AMERICAN D (ASND) for the 20-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ASND was recently trading at $120.40 and has an implied volatility of 56.08% for this period. Based on an analysis of the options available for ASND expiring on 20-Aug-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $101.89-$120.41 at expiration. In this scenario, the average linear return for the trade would be 14.42%. 52 week low: ASCENDIS PHARMA A/S AMERICAN D recently reached a new 52-week low at $118.02. ASND had traded in the range $119.11-$183.98 over the past year. Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if ASND maintains its current direction and does not revert back to pricing on the bullish side of $120.40 on 20-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 ASCENDIS PHARMA A/S AMERICAN D closes at or below $121.62 on 20-Aug-2021. Based on our risk-neutral analysis, there is a 52.39% 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.