Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for UNDERARMOUR CLASS C (UA) for the 24-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. UA was recently trading at $6.76 and has an implied volatility of 318.82% for this period. Based on an analysis of the options available for UA expiring on 24-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $3.02-$6.76 at expiration. In this scenario, the average linear return for the trade would be 22.18%. 52 week low: UNDERARMOUR CLASS C recently reached a new 52-week low at $6.76. UA had traded in the range $6.79-$24.55 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 UA maintains its current direction and does not revert back to pricing on the bullish side of $6.76 on 24-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 UNDERARMOUR CLASS C closes at or below $6.80 on 24-Apr-2020. Based on our risk-neutral analysis, there is a 50.30% 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.