Progressive (PGR) Offering Possible 5.26% Return Over the Next 6 Calendar Days

Progressive’s most recent trend suggests a bullish bias. One trading opportunity on Progressive is a Bull Put Spread using a strike $65.00 short put and a strike $60.00 long put offers a potential 5.26% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $65.00 by expiration. The full premium credit of $0.25 would be kept by the premium seller. The risk of $4.75 would be incurred if the stock dropped below the $60.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Progressive is bearish and the probability of a decline 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 68.24 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

Progressive Reports August 2018 Results
Thu, 13 Sep 2018 12:26:01 +0000
  MAYFIELD VILLAGE, OHIO – September 13, 2018 — The Progressive Corporation (NYSE:PGR) today reported the following results for August 2018:                 (millions, except per share amounts and ratios; …

Does The Progressive Corporation’s (NYSE:PGR) PE Ratio Warrant A Sell?
Thu, 13 Sep 2018 11:41:06 +0000
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Mass Evacuations Ordered as Hurricane Florence Approaches
Tue, 11 Sep 2018 21:13:25 +0000
Potentially catastrophic Hurricane Florence is barreling toward America’s east coast. The category 4 storm is expected to strengthen before it makes landfall as early as Thursday, and more than one million people have already been told to evacuate the coastal areas of Virginia, North Carolina and South Carolina.

Stocks up as China looks to WTO to impose sanctions on the US
Tue, 11 Sep 2018 15:20:42 +0000
Over a million people told to evacuate as Hurricane Florence continues its path towards the East Coast

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