Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for HELIX ENERGY SOLUTIONS (HLX) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. HLX was recently trading at $3.62 and has an implied volatility of 88.34% for this period. Based on an analysis of the options available for HLX expiring on 16-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $2.56-$3.62 at expiration. In this scenario, the average linear return for the trade would be 34.27%. Big -7.89% Change: After closing the last trading session at $3.93, HELIX ENERGY SOLUTIONS opened today at $3.92 and has reached a low of $3.59. Trade approach: A movement as big as -7.89% is a significantly bearish indicator, so this trade is designed to be profitable if HLX maintains its current direction and does not revert back to pricing on the bullish side of $3.62 on 16-Oct-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 HELIX ENERGY SOLUTIONS closes at or below $3.76 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 54.33% 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.