Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for LORDSTOWN MOTORS CORP (RIDE) for the 29-Jan-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. RIDE was recently trading at $19.26 and has an implied volatility of 107.22% for this period. Based on an analysis of the options available for RIDE expiring on 29-Jan-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $13.26-$19.26 at expiration. In this scenario, the average linear return for the trade would be 40.19%. Big -7.00% Change: After closing the last trading session at $20.71, LORDSTOWN MOTORS CORP opened today at $20.71 and has reached a low of $19.21. Trade approach: A movement as big as -7.00% is a significantly bearish indicator, so this trade is designed to be profitable if RIDE maintains its current direction and does not revert back to pricing on the bullish side of $19.26 on 29-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 bearish strategy, the trade would be profitable if LORDSTOWN MOTORS CORP closes at or below $20.72 on 29-Jan-2021. Based on our risk-neutral analysis, there is a 57.73% 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.