Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Short Risk Reversal trade opportunity for PURE STORAGE INC (PSTG) for the 20-Nov-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PSTG was recently trading at $15.09 and has an implied volatility of 54.72% for this period. Based on an analysis of the options available for PSTG expiring on 20-Nov-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $11.57-$15.09 at expiration. In this scenario, the average linear return for the trade would be 51.96%. Big -9.94% Change: After closing the last trading session at $16.75, PURE STORAGE INC opened today at $14.62 and has reached a low of $14.34. Trade approach: A movement as big as -9.94% is a significantly bearish indicator, so this trade is designed to be profitable if PSTG maintains its current direction and does not revert back to pricing on the bullish side of $15.09 on 20-Nov-2020. 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 PURE STORAGE INC closes at or below $15.20 on 20-Nov-2020. Based on our risk-neutral analysis, there is a 51.08% 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.