Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for COLUMBIA SPORTSWEAR (COLM) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. COLM was recently trading at $79.94 and has an implied volatility of 41.57% for this period. Based on an analysis of the options available for COLM expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $66.03-$79.96 at expiration. In this scenario, the average linear return for the trade would be 40.85%. Big -16.97% Change: After closing the last trading session at $96.27, COLUMBIA SPORTSWEAR opened today at $81.52 and has reached a low of $79.33. Trade approach: A movement as big as -16.97% is a significantly bearish indicator, so this trade is designed to be profitable if COLM maintains its current direction and does not revert back to pricing on the bullish side of $79.94 on 15-Jan-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 COLUMBIA SPORTSWEAR closes at or below $82.90 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 57.48% 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.