Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for GATES INDUSTRIAL CORP PLC (GTES) for the 17-Sep-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. GTES was recently trading at $16.51 and has an implied volatility of 45.29% for this period. Based on an analysis of the options available for GTES expiring on 17-Sep-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $14.28-$16.51 at expiration. In this scenario, the average linear return for the trade would be 13.15%. Big -7.56% Change: After closing the last trading session at $17.86, GATES INDUSTRIAL CORP PLC opened today at $16.21 and has reached a low of $16.01. Trade approach: A movement as big as -7.56% is a significantly bearish indicator, so this trade is designed to be profitable if GTES maintains its current direction and does not revert back to pricing on the bullish side of $16.51 on 17-Sep-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 GATES INDUSTRIAL CORP PLC closes at or below $16.62 on 17-Sep-2021. Based on our risk-neutral analysis, there is a 51.80% 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.