Biogen (BIIB) Offering Possible 35.14% Return Over the Next 30 Calendar Days

Biogen's most recent trend suggests a bearish bias. One trading opportunity on Biogen is a Bear Call Spread using a strike $290.00 short call and a strike $300.00 long call offers a potential 35.14% return on risk over the next 30 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $290.00 by expiration. The full premium credit of $2.60 would be kept by the premium seller. The risk of $7.40 would be incurred if the stock rose above the $300.00 long call strike price.

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

The RSI indicator is at 35.16 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 Biogen

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Biogen shares fall 3%
Thu, 14 Nov 2019 20:08:00 +0000
Shares of Biogen fell about 3% in afternoon trading. The Cambridge, Mass.-based biopharmaceutical company is facing a patent challenge from Mylan for its top-selling drug, multiple sclerosis treatment Tecfidera. A hearing was held Wednesday as part of the review; Evercore ISI analyst Umer Raffat wrote that "certain statements in the judge's institution decision suggested a very tough setup for Biogen on this IPR," but the hearing "appeared to have gone better than we anticipated." Tecfidera had a 3% bump in sales to $1.12 billion in the third quarter, up from $1.09 billion in the same period a year ago. Also, on Wednesday, the National Multiple Sclerosis Society came out in opposition to the pricing for Vumerity, a newly approved MS drug developed by Biogen and Alkermes . Biogen stock is down 9.2% for the year, while the S&P 500 is up about 23%.

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