Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for NEOGEN (NEOG) for the 20-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NEOG was recently trading at $71.99 and has an implied volatility of 44.64% for this period. Based on an analysis of the options available for NEOG expiring on 20-Nov-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $61.11-$72.00 at expiration. In this scenario, the average linear return for the trade would be 14.35%. Big -8.64% Change: After closing the last trading session at $78.80, NEOGEN opened today at $73.42 and has reached a low of $70.69. Trade approach: A movement as big as -8.64% is a significantly bearish indicator, so this trade is designed to be profitable if NEOG maintains its current direction and does not revert back to pricing on the bullish side of $71.99 on 20-Nov-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 NEOGEN closes at or below $72.01 on 20-Nov-2020. Based on our risk-neutral analysis, there is a 50.02% 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.