Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for ENERGY TRANSFER LP (ET) for the 30-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. ET was recently trading at $5.72 and has an implied volatility of 61.55% for this period. Based on an analysis of the options available for ET expiring on 30-Oct-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $5.39-$5.72 at expiration. In this scenario, the average linear return for the trade would be 61.62%. Big -7.44% Change: After closing the last trading session at $6.18, ENERGY TRANSFER LP opened today at $5.83 and has reached a low of $5.70. Trade approach: A movement as big as -7.44% is a significantly bearish indicator, so this trade is designed to be profitable if ET maintains its current direction and does not revert back to pricing on the bullish side of $5.72 on 30-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 ENERGY TRANSFER LP closes at or below $5.74 on 30-Oct-2020. Based on our risk-neutral analysis, there is a 52.35% 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.