Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for HERMAN MILLER (MLHR) for the 18-Jun-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MLHR was recently trading at $39.31 and has an implied volatility of 39.01% for this period. Based on an analysis of the options available for MLHR expiring on 18-Jun-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $33.55-$39.32 at expiration. In this scenario, the average linear return for the trade would be 15.78%. Big -11.26% Change: After closing the last trading session at $44.30, HERMAN MILLER opened today at $38.79 and has reached a low of $38.77. Trade approach: A movement as big as -11.26% is a significantly bearish indicator, so this trade is designed to be profitable if MLHR maintains its current direction and does not revert back to pricing on the bullish side of $39.31 on 18-Jun-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 HERMAN MILLER closes at or below $39.75 on 18-Jun-2021. Based on our risk-neutral analysis, there is a 52.75% 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.