Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Covered Put trade opportunity for FARADAY FUTURE INTELLIGENT ELECTRIC INC (FFIE) for the 8-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. FFIE was recently trading at $10.10 and has an implied volatility of 118.53% for this period. Based on an analysis of the options available for FFIE expiring on 8-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $8.20-$10.10 at expiration. In this scenario, the average linear return for the trade would be 983.33%. Big -9.34% Change: After closing the last trading session at $11.14, FARADAY FUTURE INTELLIGENT ELECTRIC INC opened today at $11.00 and has reached a low of $10.03. Trade approach: A movement as big as -9.34% is a significantly bearish indicator, so this trade is designed to be profitable if FFIE maintains its current direction and does not revert back to pricing on the bullish side of $10.10 on 8-Oct-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 FARADAY FUTURE INTELLIGENT ELECTRIC INC closes at or below $15.09 on 8-Oct-2021. Based on our risk-neutral analysis, there is a 97.31% 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.