Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for APPIAN CORPORATION CLASS A COMMON STOCK (APPN) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. APPN was recently trading at $96.93 and has an implied volatility of 66.52% for this period. Based on an analysis of the options available for APPN expiring on 15-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $83.87-$96.94 at expiration. In this scenario, the average linear return for the trade would be 66.69%. Big -8.94% Change: After closing the last trading session at $106.45, APPIAN CORPORATION CLASS A COMMON STOCK opened today at $103.92 and has reached a low of $95.76. Trade approach: A movement as big as -8.94% is a significantly bearish indicator, so this trade is designed to be profitable if APPN maintains its current direction and does not revert back to pricing on the bullish side of $96.93 on 15-Oct-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 APPIAN CORPORATION CLASS A COMMON STOCK closes at or below $97.10 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 50.46% 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.