With today’s gap higher, the S&P 500 Index is now up approximately 12.5% since bottoming in a volatile fashion on Oct. 4. While the recent surge has been sufficient to lift many broken stocks from the abyss, some still languish in downtrends.

One such vulnerable stock that has formed a bear flag over the past week is Green Mountain Coffee Roasters (NASDAQ:GMCR). If weakness finally returns to the tape, this caffeinated stock may commence another sell-off.

A high-probability bet worth considering is the sale of the GMCR Oct 100-105 bear-call spread for around a 45-cent credit.

To enter the position, you would sell (“Sell to Open”) the Oct 100 Call while at the same time buying (“Buy to Open”) the Oct 105 Call. If GMCR remains below $100 by October expiration, you would capture the entire $45 profit. The max risk is $455, which you’d incur if GMCR rises above $105 by October expiration.

If GMCR does power higher, I suggest closing the position on any break above $100. If the stock remains below $100, you can hold to expiration to capture the max profit or exit early once the majority of the gain has been realized.

GMCR has earnings on Oct. 26, just a few trading days after these October options come off the board, so you’ll be out of the position before its numbers hit the tape.

At the time of this writing, Tyler Craig had no positions on GMCR.