Nucor Corporation (NUE) Offering Possible 38.89% Return Over the Next 10 Calendar Days

Nucor Corporation's most recent trend suggests a bullish bias. One trading opportunity on Nucor Corporation is a Bull Put Spread using a strike $96.00 short put and a strike $91.00 long put offers a potential 38.89% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $96.00 by expiration. The full premium credit of $1.40 would be kept by the premium seller. The risk of $3.60 would be incurred if the stock dropped below the $91.00 long put strike price.

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

The RSI indicator is at 34.76 level which suggests that the stock is neither overbought nor oversold at this time.

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