Amgen (AMGN) Offering Possible 24.69% Return Over the Next 29 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $180.00 short put and a strike $170.00 long put offers a potential 24.69% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $180.00 by expiration. The full premium credit of $1.98 would be kept by the premium seller. The risk of $8.02 would be incurred if the stock dropped below the $170.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Amgen 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 Amgen is bullish.

The RSI indicator is at 31.73 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 Amgen

Merck's Keytruda Gets FDA Priority Review for Head/Neck Cancer
Tue, 12 Feb 2019 14:12:02 +0000
Merck's (MRK) supplemental biologics license application for Keytruda receives a priority review from the FDA for the first-line treatment of patients with recurrent/metastatic head and neck cancer.

AbbVie Buys Rights to Novel Immunotherapy for Multiple Myeloma
Tue, 12 Feb 2019 14:11:02 +0000
AbbVie (ABBV) enters a global strategic transaction agreement with privately-held Teneobio to develop and commercialize the latter's pre-clinical immunotherapy candidate, TNB-383B, as a multiple myeloma treatment.

Sanofi/Regeneron Cut Price of PCSK9 Inhibitor Praluent by 60%
Tue, 12 Feb 2019 13:56:01 +0000
Sanofi (SNY) and Regeneron (REGN) announce a 60% cut in the U.S. list price of their cholesterol lowering drug, Praluent to improve access and affordability of the product.

Regeneron’s 60% Price Cut Shows Heat Is Still on Drug Companies
Mon, 11 Feb 2019 16:45:00 +0000
A growing effort to push back on price increases is affecting pharmaceutical companies. Regeneron and Sanofi are the latest to announce a cut, for the cholesterol drug Praluent.

Sanofi and Regeneron cut list price of cholesterol drug by 60 percent
Mon, 11 Feb 2019 12:18:30 +0000
Sanofi SA and Regeneron Pharmaceuticals Inc said on Monday that they will slash the U.S. list price of their potent but expensive cholesterol fighter Praluent by 60 percent, as the drugmakers follow a similar move by rival Amgen Inc in hopes of increasing use of the drug. The new list price for Praluent will be $5,850 (£4,533) a year, matching the price Amgen set when it lowered the list of its competing drug, Repatha, in October.

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