Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for EQUITRANS MIDSTREAM CORP (ETRN) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ETRN was recently trading at $6.86 and has an implied volatility of 79.95% for this period. Based on an analysis of the options available for ETRN expiring on 19-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $5.45-$6.86 at expiration. In this scenario, the average linear return for the trade would be 14.34%. Big -10.33% Change: After closing the last trading session at $7.65, EQUITRANS MIDSTREAM CORP opened today at $7.73 and has reached a low of $6.83. Trade approach: A movement as big as -10.33% is a significantly bearish indicator, so this trade is designed to be profitable if ETRN maintains its current direction and does not revert back to pricing on the bullish side of $6.86 on 19-Feb-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 EQUITRANS MIDSTREAM CORP closes at or below $7.85 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 72.07% 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.