Progressive (PGR) Offering Possible 13.64% Return Over the Next 24 Calendar Days

Progressive's most recent trend suggests a bearish bias. One trading opportunity on Progressive is a Bear Call Spread using a strike $95.00 short call and a strike $100.00 long call offers a potential 13.64% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $95.00 by expiration. The full premium credit of $0.60 would be kept by the premium seller. The risk of $4.40 would be incurred if the stock rose above the $100.00 long call strike price.

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

The RSI indicator is at 23.07 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 Progressive

Progressive's (PGR) May Earnings Drop, Revenues Rise Y/Y
Thu, 17 Jun 2021 14:19:02 +0000
Progressive's (PGR) May earnings reflect increase in expenses, partially offset by increase in revenues.

The top 100 CEOs of 2021: Glassdoor's Employee Choice Awards
Wed, 16 Jun 2021 17:54:11 +0000
Jobsite Glassdoor reveals its Employees’ Choice Awards honoring the top 100 CEOs in 2021.

Progressive Reports May 2021 Results
Wed, 16 Jun 2021 12:15:00 +0000
MAYFIELD VILLAGE, OHIO, June 16, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for May 2021: May(millions, except per share amounts and ratios; unaudited)2021 2020 Change Net premiums written$3,402.4 $3,174.2 7 %Net premiums earned$3,388.8 $2,991.2 13 %Net income$341.1 $366.9 (7)%Per share available to common shareholders$0.58 $0.62 (7)%Total pretax net realized gains (losses) on securities$146.3 $210.6 (31)%Combined ratio93.1 93.7 (0.6) pts

Here's Why You Should Hold Progressive (PGR) in Your Portfolio
Wed, 09 Jun 2021 14:20:02 +0000
Progressive (PGR) is poised to grow given its solid segmental performance, underwriting profitability and growing cash balance

Progressive Chief Marketing Officer (CMO) Jeff Charney Awarded Ad Age 2021 “Brand CMO of the Year”
Mon, 07 Jun 2021 20:11:00 +0000
Progressive CMO and marketing industry leader Jeff Charney today earned the designation of 2021 “Brand CMO of the Year”, presented by Ad Age, a premier publication for the advertising, marketing, and media industry.

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