Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for QUIDEL (QDEL) for the 30-Apr-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. QDEL was recently trading at $110.69 and has an implied volatility of 48.96% for this period. Based on an analysis of the options available for QDEL expiring on 30-Apr-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $103.26-$110.70 at expiration. In this scenario, the average linear return for the trade would be 37.79%. Big -9.43% Change: After closing the last trading session at $122.22, QUIDEL opened today at $105.93 and has reached a low of $105.93. Trade approach: A movement as big as -9.43% is a significantly bearish indicator, so this trade is designed to be profitable if QDEL maintains its current direction and does not revert back to pricing on the bullish side of $110.69 on 30-Apr-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 QUIDEL closes at or below $111.15 on 30-Apr-2021. Based on our risk-neutral analysis, there is a 52.34% 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.