Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for MAKEMYTRIP (MMYT) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MMYT was recently trading at $28.09 and has an implied volatility of 58.85% for this period. Based on an analysis of the options available for MMYT expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $22.94-$28.09 at expiration. In this scenario, the average linear return for the trade would be 36.44%. Big -11.07% Change: After closing the last trading session at $31.58, MAKEMYTRIP opened today at $29.92 and has reached a low of $27.18. Trade approach: A movement as big as -11.07% is a significantly bearish indicator, so this trade is designed to be profitable if MMYT maintains its current direction and does not revert back to pricing on the bullish side of $28.09 on 19-Mar-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 MAKEMYTRIP closes at or below $28.30 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 51.47% 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.