Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for APPLOVIN CORPORATION CLASS A COMMON STOC (APP) for the 14-Apr-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APP was recently trading at $62.48 and has an implied volatility of 70.06% for this period. Based on an analysis of the options available for APP expiring on 14-Apr-2022, there is a 34.18% likelihood that the underlying will close within the analyzed range of $47.40-$62.48 at expiration. In this scenario, the average linear return for the trade would be 27.38%. Big -9.07% Change: After closing the last trading session at $68.71, APPLOVIN CORPORATION CLASS A COMMON STOC opened today at $55.79 and has reached a low of $54.10. Trade approach: A movement as big as -9.07% is a significantly bearish indicator, so this trade is designed to be profitable if APP maintains its current direction and does not revert back to pricing on the bullish side of $62.48 on 14-Apr-2022. 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 APPLOVIN CORPORATION CLASS A COMMON STOC closes at or below $64.86 on 14-Apr-2022. Based on our risk-neutral analysis, there is a 55.39% 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.