Progressive (PGR) Offering Possible 7.53% Return Over the Next 10 Calendar Days

Progressive’s most recent trend suggests a bullish bias. One trading opportunity on Progressive is a Bull Put Spread using a strike $95.00 short put and a strike $90.00 long put offers a potential 7.53% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $95.00 by expiration. The full premium credit of $0.35 would be kept by the premium seller. The risk of $4.65 would be incurred if the stock dropped below the $90.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Progressive is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Progressive is bullish.

The RSI indicator is at 78.65 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Progressive

Is It Smart To Buy The Progressive Corporation (NYSE:PGR) Before It Goes Ex-Dividend?
Thu, 01 Jul 2021 07:54:01 +0000
Readers hoping to buy The Progressive Corporation ( NYSE:PGR ) for its dividend will need to make their move shortly…

Is The Progressive Corporation (PGR) A Good Stock To Buy?
Mon, 21 Jun 2021 15:09:40 +0000
The 800+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the first quarter, which unveil their equity positions as of March 31st. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]

Progressive’s (PGR) May Earnings Drop, Revenues Rise Y/Y
Thu, 17 Jun 2021 14:19:02 +0000
Progressive’s (PGR) May earnings reflect increase in expenses, partially offset by increase in revenues.

The top 100 CEOs of 2021: Glassdoor’s Employee Choice Awards
Wed, 16 Jun 2021 17:54:11 +0000
Jobsite Glassdoor reveals its Employees’ Choice Awards honoring the top 100 CEOs in 2021.

Progressive Reports May 2021 Results
Wed, 16 Jun 2021 12:15:00 +0000
MAYFIELD VILLAGE, OHIO, June 16, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for May 2021: May(millions, except per share amounts and ratios; unaudited)2021 2020 Change Net premiums written$3,402.4 $3,174.2 7 %Net premiums earned$3,388.8 $2,991.2 13 %Net income$341.1 $366.9 (7)%Per share available to common shareholders$0.58 $0.62 (7)%Total pretax net realized gains (losses) on securities$146.3 $210.6 (31)%Combined ratio93.1 93.7 (0.6) pts

Be Sociable, Share!

Related Posts