Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for EXACT SCIENCES (EXAS) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. EXAS was recently trading at $87.50 and has an implied volatility of 42.92% for this period. Based on an analysis of the options available for EXAS expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $73.70-$87.71 at expiration. In this scenario, the average linear return for the trade would be 44.83%. Big -8.43% Change: After closing the last trading session at $95.56, EXACT SCIENCES opened today at $88.25 and has reached a low of $86.11. Trade approach: A movement as big as -8.43% is a significantly bearish indicator, so this trade is designed to be profitable if EXAS maintains its current direction and does not revert back to pricing on the bullish side of $87.50 on 17-Apr-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 EXACT SCIENCES closes at or below $88.30 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 51.55% 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.