Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for SPDR BLOOMBERG CAPITAL CONVERTIBLE (CWB) for the 18-Feb-2022 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. CWB was recently trading at $74.50 and has an implied volatility of 33.65% for this period. Based on an analysis of the options available for CWB expiring on 18-Feb-2022, there is a 34.14% likelihood that the underlying will close within the analyzed range of $68.18-$74.50 at expiration. In this scenario, the average linear return for the trade would be 59.99%. 52 week low: SPDR BLOOMBERG CAPITAL CONVERTIBLE recently reached a new 52-week low at $74.13. CWB had traded in the range $77.25-$92.97 over the past year. Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if CWB maintains its current direction and does not revert back to pricing on the bullish side of $74.50 on 18-Feb-2022. 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 SPDR BLOOMBERG CAPITAL CONVERTIBLE closes at or below $74.60 on 18-Feb-2022. Based on our risk-neutral analysis, there is a 50.62% 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.