Progressive (PGR) Offering Possible 9.89% Return Over the Next 7 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 9.89% return on risk over the next 7 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 $0.45 would be kept by the premium seller. The risk of $4.55 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 77.91 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Progressive

Progressive™ hiring to support continued growth
Wed, 07 Jul 2021 13:00:00 +0000
Progressive Insurance℠ intends to hire up to 6,400 new employees during the remainder of 2021 to support the national insurance organization’s growth.

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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.

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