Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for NEWEGG COMMERCE INC (NEGG) for the 20-Aug-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. NEGG was recently trading at $26.51 and has an implied volatility of 155.96% for this period. Based on an analysis of the options available for NEGG expiring on 20-Aug-2021, there is a 34.13% likelihood that the underlying will close within the analyzed range of $16.21-$26.51 at expiration. In this scenario, the average linear return for the trade would be 189.67%. Big -8.30% Change: After closing the last trading session at $28.91, NEWEGG COMMERCE INC opened today at $29.40 and has reached a low of $26.30. Trade approach: A movement as big as -8.30% is a significantly bearish indicator, so this trade is designed to be profitable if NEGG maintains its current direction and does not revert back to pricing on the bullish side of $26.51 on 20-Aug-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 NEWEGG COMMERCE INC closes at or below $38.12 on 20-Aug-2021. Based on our risk-neutral analysis, there is a 76.99% 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.