Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for RIOT BLOCKCHAIN INC. COMMON STOCK (RIOT) for the 21-May-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RIOT was recently trading at $23.73 and has an implied volatility of 147.78% for this period. Based on an analysis of the options available for RIOT expiring on 21-May-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $18.98-$23.73 at expiration. In this scenario, the average linear return for the trade would be 67.60%. Big -10.52% Change: After closing the last trading session at $26.52, RIOT BLOCKCHAIN INC. COMMON STOCK opened today at $24.91 and has reached a low of $23.55. Trade approach: A movement as big as -10.52% is a significantly bearish indicator, so this trade is designed to be profitable if RIOT maintains its current direction and does not revert back to pricing on the bullish side of $23.73 on 21-May-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 RIOT BLOCKCHAIN INC. COMMON STOCK closes at or below $23.84 on 21-May-2021. Based on our risk-neutral analysis, there is a 50.82% 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.