Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for BIOGEN INC. COMMON STOCK (BIIB) for the 28-Jan-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. BIIB was recently trading at $215.85 and has an implied volatility of 38.83% for this period. Based on an analysis of the options available for BIIB expiring on 28-Jan-2022, there is a 34.16% likelihood that the underlying will close within the analyzed range of $206.96-$215.86 at expiration. In this scenario, the average linear return for the trade would be 49.96%. 52 week low: BIOGEN INC. COMMON STOCK recently reached a new 52-week low at $215.82. BIIB had traded in the range $217.10-$468.55 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 BIIB maintains its current direction and does not revert back to pricing on the bullish side of $215.85 on 28-Jan-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 BIOGEN INC. COMMON STOCK closes at or below $216.30 on 28-Jan-2022. Based on our risk-neutral analysis, there is a 51.95% 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.