Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for NOVAVAX (NVAX) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NVAX was recently trading at $91.31 and has an implied volatility of 100.61% for this period. Based on an analysis of the options available for NVAX expiring on 15-Jan-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $91.33-$139.32 at expiration. In this scenario, the average linear return for the trade would be 128.38%. Big 7.41% Change: After closing the last trading session at $85.01, NOVAVAX opened today at $85.77 and has reached a high of $94.77. Trade approach: A movement as big as 7.41% is a significantly bullish indicator, so this trade is designed to be profitable if NVAX maintains its current direction and does not revert back to pricing on the bearish side of $91.31 on 15-Jan-2021. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if NOVAVAX closes at or above $87.18 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 54.39% 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.