Target’s most recent trend suggests a bullish bias. One trading opportunity on Target is a Bull Put Spread using a strike $245.00 short put and a strike $240.00 long put offers a potential 18.2% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $245.00 by expiration. The full premium credit of $0.77 would be kept by the premium seller. The risk of $4.23 would be incurred if the stock dropped below the $240.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Target 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 Target is bullish.
The RSI indicator is above 80 which suggests that the stock is in overbought territory.
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
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Retailers with a strong online presence like Target Corporation (TGT), Walmart (WMT) and Best Buy (BBY) are likely to benefit in the near term.
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