EOG Resources (EOG) Offering Possible 16.82% Return Over the Next 8 Calendar Days

EOG Resources's most recent trend suggests a bearish bias. One trading opportunity on EOG Resources is a Bear Call Spread using a strike $115.00 short call and a strike $120.00 long call offers a potential 16.82% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $115.00 by expiration. The full premium credit of $0.72 would be kept by the premium seller. The risk of $4.28 would be incurred if the stock rose above the $120.00 long call strike price.

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

The RSI indicator is at 36.39 level which suggests that the stock is neither overbought nor oversold at this time.

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