Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for VARONIS SYSTEMS INC. COMMON S (VRNS) for the 19-Mar-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. VRNS was recently trading at $199.92 and has an implied volatility of 52.88% for this period. Based on an analysis of the options available for VRNS expiring on 19-Mar-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $171.70-$199.94 at expiration. In this scenario, the average linear return for the trade would be 47.92%. Big -7.53% Change: After closing the last trading session at $216.20, VARONIS SYSTEMS INC. COMMON S opened today at $212.36 and has reached a low of $197.85. Trade approach: A movement as big as -7.53% is a significantly bearish indicator, so this trade is designed to be profitable if VRNS maintains its current direction and does not revert back to pricing on the bullish side of $199.92 on 19-Mar-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 VARONIS SYSTEMS INC. COMMON S closes at or below $203.40 on 19-Mar-2021. Based on our risk-neutral analysis, there is a 54.49% 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.