Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for COMMUNITY HEALTH SYSTEMS (CYH) for the 23-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CYH was recently trading at $14.74 and has an implied volatility of 61.42% for this period. Based on an analysis of the options available for CYH expiring on 23-Jul-2021, there is a 34.15% likelihood that the underlying will close within the analyzed range of $14.20-$14.74 at expiration. In this scenario, the average linear return for the trade would be 15.16%. Big -7.00% Change: After closing the last trading session at $15.85, COMMUNITY HEALTH SYSTEMS opened today at $15.68 and has reached a low of $14.66. Trade approach: A movement as big as -7.00% is a significantly bearish indicator, so this trade is designed to be profitable if CYH maintains its current direction and does not revert back to pricing on the bullish side of $14.74 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 COMMUNITY HEALTH SYSTEMS closes at or below $14.75 on 23-Jul-2021. Based on our risk-neutral analysis, there is a 50.73% 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.