Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for ALIGN TECHNOLOGY (ALGN) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ALGN was recently trading at $241.77 and has an implied volatility of 40.94% for this period. Based on an analysis of the options available for ALGN expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $207.31-$242.35 at expiration. In this scenario, the average linear return for the trade would be 58.15%. Big -7.11% Change: After closing the last trading session at $260.26, ALIGN TECHNOLOGY opened today at $245.36 and has reached a low of $240.71. Trade approach: A movement as big as -7.11% is a significantly bearish indicator, so this trade is designed to be profitable if ALGN maintains its current direction and does not revert back to pricing on the bullish side of $241.77 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 ALIGN TECHNOLOGY closes at or below $247.40 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 55.26% 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.