Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for HERTZ GLOBAL HOLDINGS INC (HTZ) for the 6-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. HTZ was recently trading at $1.93 and has an implied volatility of 241.82% for this period. Based on an analysis of the options available for HTZ expiring on 6-Nov-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $1.14-$1.93 at expiration. In this scenario, the average linear return for the trade would be 146.03%. Big -11.29% Change: After closing the last trading session at $2.17, HERTZ GLOBAL HOLDINGS INC opened today at $2.32 and has reached a low of $1.92. Trade approach: A movement as big as -11.29% is a significantly bearish indicator, so this trade is designed to be profitable if HTZ maintains its current direction and does not revert back to pricing on the bullish side of $1.93 on 6-Nov-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 HERTZ GLOBAL HOLDINGS INC closes at or below $2.73 on 6-Nov-2020. Based on our risk-neutral analysis, there is a 74.63% 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.