Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for CENTENE (CNC) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CNC was recently trading at $60.14 and has an implied volatility of 39.21% for this period. Based on an analysis of the options available for CNC expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $51.24-$60.28 at expiration. In this scenario, the average linear return for the trade would be 15.51%. Big -8.17% Change: After closing the last trading session at $65.49, CENTENE opened today at $62.37 and has reached a low of $59.88. Trade approach: A movement as big as -8.17% is a significantly bearish indicator, so this trade is designed to be profitable if CNC maintains its current direction and does not revert back to pricing on the bullish side of $60.14 on 17-Apr-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 CENTENE closes at or below $61.16 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 53.53% 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.