Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Call Spread trade opportunity for PATRIA INVESTMENTS LIMITED CLASS A COMMON SHARES (PAX) for the 21-May-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PAX was recently trading at $15.11 and has an implied volatility of 57.05% for this period. Based on an analysis of the options available for PAX expiring on 21-May-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $12.82-$15.11 at expiration. In this scenario, the average linear return for the trade would be 31.39%. 52 week low: PATRIA INVESTMENTS LIMITED CLASS A COMMON SHARES recently reached a new 52-week low at $15.00. PAX had traded in the range $15.30-$23.28 over the past year. Trade approach: Reaching a new 52-week low is a bearish indicator, so this trade is designed to be profitable if PAX maintains its current direction and does not revert back to pricing on the bullish side of $15.11 on 21-May-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 PATRIA INVESTMENTS LIMITED CLASS A COMMON SHARES closes at or below $15.60 on 21-May-2021. Based on our risk-neutral analysis, there is a 57.68% 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.