Progressive (PGR) Offering Possible 7.53% Return Over the Next 17 Calendar Days

Progressive's most recent trend suggests a bearish bias. One trading opportunity on Progressive is a Bear Call Spread using a strike $72.50 short call and a strike $77.50 long call offers a potential 7.53% return on risk over the next 17 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $72.50 by expiration. The full premium credit of $0.35 would be kept by the premium seller. The risk of $4.65 would be incurred if the stock rose above the $77.50 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 22.99 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

Cincinnati Financial (CINF) Q3 Earnings Top, Revenues Up Y/Y
Fri, 25 Oct 2019 15:42:03 +0000
Cincinnati Financial's (CINF) Q3 results reflect price increases and premium growth initiatives.

First American (FAF) Q3 Earnings and Revenues Top Estimates
Fri, 25 Oct 2019 14:39:02 +0000
First American Financial (FAF) Q3 results reflect increase in revenues driven by higher contribution from both its segments.

Arthur J. Gallagher (AJG) Q3 Earnings Beat, Improve Y/Y
Fri, 25 Oct 2019 14:34:02 +0000
Arthur J. Gallagher's (AJG) Q3 results reflect increased adjusted revenues across Brokerage and Risk Management segments, along with margin expansion.

Aon plc's (AON) Q3 Earnings Beat Estimates, Improve Y/Y
Fri, 25 Oct 2019 13:34:01 +0000
Aon plc's (AON) third-quarter results gain traction from an improved revenue stream.

MGIC (MTG) Q3 Earnings Beat Estimates, Revenues Rise Y/Y
Wed, 23 Oct 2019 15:08:03 +0000
MGIC Investment (MTG) Q3 results reflect favorable persistency, increase in net premiums earned and higher net investment income.

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