Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for RENAISSANCERE HOLDINGS (RNR) for the 16-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RNR was recently trading at $143.92 and has an implied volatility of 22.18% for this period. Based on an analysis of the options available for RNR expiring on 16-Jul-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $135.30-$143.93 at expiration. In this scenario, the average linear return for the trade would be 23.65%. 52 week low: RENAISSANCERE HOLDINGS recently reached a new 52-week low at $143.10. RNR had traded in the range $144.03-$191.24 over the past year. Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if RNR maintains its current direction and does not revert back to pricing on the bullish side of $143.92 on 16-Jul-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 RENAISSANCERE HOLDINGS closes at or below $144.65 on 16-Jul-2021. Based on our risk-neutral analysis, there is a 53.21% 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.