Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for PHILIP MORRIS (PM) for the 9-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PM was recently trading at $62.30 and has an implied volatility of 79.62% for this period. Based on an analysis of the options available for PM expiring on 9-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $50.03-$61.16 at expiration. In this scenario, the average linear return for the trade would be 18.08%. 52 week low: PHILIP MORRIS recently reached a new 52-week low at $61.01. PM had traded in the range $68.41-$92.74 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 PM maintains its current direction and does not revert back to pricing on the bullish side of $62.30 on 9-Apr-2020. 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 PHILIP MORRIS closes at or below $62.23 on 9-Apr-2020. Based on our risk-neutral analysis, there is a 53.45% 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.