Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for NOVAVAX (NVAX) for the 30-Jul-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NVAX was recently trading at $178.00 and has an implied volatility of 97.53% for this period. Based on an analysis of the options available for NVAX expiring on 30-Jul-2021, there is a 34.16% likelihood that the underlying will close within the analyzed range of $162.17-$178.00 at expiration. In this scenario, the average linear return for the trade would be 46.08%. Big -7.94% Change: After closing the last trading session at $193.36, NOVAVAX opened today at $188.52 and has reached a low of $177.80. Trade approach: A movement as big as -7.94% is a significantly bearish indicator, so this trade is designed to be profitable if NVAX maintains its current direction and does not revert back to pricing on the bullish side of $178.00 on 30-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 NOVAVAX closes at or below $179.15 on 30-Jul-2021. Based on our risk-neutral analysis, there is a 52.75% 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.