Honeywell (HON) Offering Possible 31.23% Return Over the Next 7 Calendar Days

Honeywell’s most recent trend suggests a bearish bias. One trading opportunity on Honeywell is a Bear Call Spread using a strike $162.50 short call and a strike $167.50 long call offers a potential 31.23% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $162.50 by expiration. The full premium credit of $1.19 would be kept by the premium seller. The risk of $3.81 would be incurred if the stock rose above the $167.50 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Honeywell 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 down which suggests that the medium-term momentum for Honeywell is bearish.

The RSI indicator is at 35.9 level which suggests that the stock is neither overbought nor oversold at this time.

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