Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for IRIDIUM COMMUNICATIONS (IRDM) for the 15-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. IRDM was recently trading at $43.12 and has an implied volatility of 40.79% for this period. Based on an analysis of the options available for IRDM expiring on 15-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $37.35-$43.12 at expiration. In this scenario, the average linear return for the trade would be 49.04%. Big -8.02% Change: After closing the last trading session at $46.88, IRIDIUM COMMUNICATIONS opened today at $42.79 and has reached a low of $42.57. Trade approach: A movement as big as -8.02% is a significantly bearish indicator, so this trade is designed to be profitable if IRDM maintains its current direction and does not revert back to pricing on the bullish side of $43.12 on 15-Oct-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 IRIDIUM COMMUNICATIONS closes at or below $43.40 on 15-Oct-2021. Based on our risk-neutral analysis, there is a 51.76% 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.