Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for INTERNATIONAL BUSINESS MACHINE (IBM) for the 16-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IBM was recently trading at $117.70 and has an implied volatility of 27.90% for this period. Based on an analysis of the options available for IBM expiring on 16-Apr-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $102.96-$117.73 at expiration. In this scenario, the average linear return for the trade would be 154.52%. Big -10.60% Change: After closing the last trading session at $131.65, INTERNATIONAL BUSINESS MACHINE opened today at $120.70 and has reached a low of $117.36. Trade approach: A movement as big as -10.60% is a significantly bearish indicator, so this trade is designed to be profitable if IBM maintains its current direction and does not revert back to pricing on the bullish side of $117.70 on 16-Apr-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 INTERNATIONAL BUSINESS MACHINE closes at or below $175.94 on 16-Apr-2021. Based on our risk-neutral analysis, there is a 99.86% 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.