Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for PEGASYSTEMS (PEGA) for the 14-Apr-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PEGA was recently trading at $85.74 and has an implied volatility of 50.69% for this period. Based on an analysis of the options available for PEGA expiring on 14-Apr-2022, there is a 34.18% likelihood that the underlying will close within the analyzed range of $70.21-$85.75 at expiration. In this scenario, the average linear return for the trade would be 36.52%. Big -12.08% Change: After closing the last trading session at $97.52, PEGASYSTEMS opened today at $85.87 and has reached a low of $85.31. Trade approach: A movement as big as -12.08% is a significantly bearish indicator, so this trade is designed to be profitable if PEGA maintains its current direction and does not revert back to pricing on the bullish side of $85.74 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 PEGASYSTEMS closes at or below $86.20 on 14-Apr-2022. Based on our risk-neutral analysis, there is a 51.06% 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.