Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for TEVA PHARMACEUTICAL (TEVA) for the 23-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TEVA was recently trading at $8.41 and has an implied volatility of 47.32% for this period. Based on an analysis of the options available for TEVA expiring on 23-Jul-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $7.99-$8.42 at expiration. In this scenario, the average linear return for the trade would be 11.11%. 52 week low: TEVA PHARMACEUTICAL recently reached a new 52-week low at $8.24. TEVA had traded in the range $8.44-$13.30 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 TEVA maintains its current direction and does not revert back to pricing on the bullish side of $8.41 on 23-Jul-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 TEVA PHARMACEUTICAL closes at or below $8.55 on 23-Jul-2021. Based on our risk-neutral analysis, there is a 62.12% 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.