Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for INVITAE CORP (NVTA) for the 15-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NVTA was recently trading at $61.02 and has an implied volatility of 77.04% for this period. Based on an analysis of the options available for NVTA expiring on 15-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $61.03-$76.77 at expiration. In this scenario, the average linear return for the trade would be 81.38%. Big 7.82% Change: After closing the last trading session at $56.60, INVITAE CORP opened today at $58.22 and has reached a high of $61.59. Trade approach: A movement as big as 7.82% is a significantly bullish indicator, so this trade is designed to be profitable if NVTA maintains its current direction and does not revert back to pricing on the bearish side of $61.02 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 INVITAE CORP closes at or above $60.15 on 15-Jan-2021. Based on our risk-neutral analysis, there is a 52.53% 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.