Corning (GLW) Offering Possible 13.12% Return Over the Next 3 Calendar Days

Corning's most recent trend suggests a bullish bias. One trading opportunity on Corning is a Bull Put Spread using a strike $26.00 short put and a strike $21.00 long put offers a potential 13.12% 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 $26.00 by expiration. The full premium credit of $0.58 would be kept by the premium seller. The risk of $4.42 would be incurred if the stock dropped below the $21.00 long put strike price.

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

The RSI indicator is at 75.39 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 Corning

Telecom Stock Roundup: Ericsson Boosts Presence in China, Corning Taps Funds & More
Thu, 11 Jun 2020 14:24:02 +0000
While Ericsson (ERIC) strengthens its presence in China with 5G contracts, Corning (GLW) boosts healthcare segment with funds to increase production capacity.

Corning Secures Federal Funds to Boost Glass Vial Capacity
Wed, 10 Jun 2020 12:29:12 +0000
In addition to corporate social responsibilities, the federal funds are likely to help Corning (GLW) strengthen its position as a leading packaging provider in the healthcare segment.

Coronavirus latest: Tuesday, June 9
Tue, 09 Jun 2020 20:41:24 +0000
Since states have reopened, the George Floyd protests have sparked worries about a spike in cases for coronavirus while a number of pharmaceutical companies work toward a vaccine or treatment. Yahoo Finance’s Anjalee Khemlani breaks down the latest news on the coronavirus.

Corning wins U.S. funding to boost glass vial manufacturing for COVID-19 therapies
Tue, 09 Jun 2020 13:52:01 +0000
June 9 (Reuters) – Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost the manufacturing capacity of its glass vials after the company was selected as a packaging provider for COVID-19 vaccines and treatments.

U.S. Departments of Defense, Health & Human Services select Corning Valor® Glass packaging to accelerate delivery of COVID-19 vaccines
Tue, 09 Jun 2020 12:30:10 +0000
Corning Incorporated (GLW) today announced it will receive $204 million from the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services through its partnership with the Department of Defense’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense and Army Contracting Command. Under the agreement, Corning will substantially expand its domestic manufacturing capacity of Corning Valor® Glass vials to support the vaccination and treatment of billions of patients.

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