Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for MODERNA INC. COMMON STOCK (MRNA) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. MRNA was recently trading at $62.22 and has an implied volatility of 119.92% for this period. Based on an analysis of the options available for MRNA expiring on 17-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $39.53-$62.24 at expiration. In this scenario, the average linear return for the trade would be 129.28%. Big -9.82% Change: After closing the last trading session at $69.00, MODERNA INC. COMMON STOCK opened today at $66.40 and has reached a low of $60.52. Trade approach: A movement as big as -9.82% is a significantly bearish indicator, so this trade is designed to be profitable if MRNA maintains its current direction and does not revert back to pricing on the bullish side of $62.22 on 17-Jul-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 MODERNA INC. COMMON STOCK closes at or below $89.70 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 78.96% 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.