Progressive (PGR) Offering Possible 9.89% Return Over the Next 15 Calendar Days

Progressive's most recent trend suggests a bullish bias. One trading opportunity on Progressive is a Bull Put Spread using a strike $97.50 short put and a strike $92.50 long put offers a potential 9.89% return on risk over the next 15 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $97.50 by expiration. The full premium credit of $0.45 would be kept by the premium seller. The risk of $4.55 would be incurred if the stock dropped below the $92.50 long put strike price.

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

The RSI indicator is at 32.82 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

Protective Insurance Acquired by Progressive
Tue, 01 Jun 2021 15:06:00 +0000
MAYFIELD VILLAGE, Ohio, June 01, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE: PGR) today announced that it has successfully completed the acquisition of Protective Insurance Corporation (NASDAQ: PTVCA and PTVCB). Under the terms of the merger agreement, holders of Class A and Class B common shares of Protective will receive $23.30 per share in cash, without interest, for a total transaction value of approximately $338 million. The acquisition was previously announced on February 1

Progressive Completes Acquisition of Protective Insurance
Tue, 01 Jun 2021 14:56:00 +0000
MAYFIELD VILLAGE, OHIO, June 01, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE: PGR) today announced that it has successfully completed the acquisition of Protective Insurance Corporation (NASDAQ: PTVCA and PTVCB). Under the terms of the merger agreement, holders of Class A and Class B common shares of Protective will receive $23.30 per share in cash, without interest, for a total transaction value of approximately $338 million. The acquisition was previously announced on February 1

How Lemonade, Progressive, and Other Insurers Are Managing Extreme Weather Risks
Sat, 29 May 2021 12:10:00 +0000
Insurers faced larger-than-expected losses in the first quarter due to the Texas freeze. Here's why they will be OK.

Progressive (NYSE:PGR) Has Gifted Shareholders With A Fantastic 256% Total Return On Their Investment
Fri, 28 May 2021 09:40:05 +0000
When you buy a stock there is always a possibility that it could drop 100%. But on the bright side, if you buy shares…

Carl Icahn Holds 1% Stake in Allstate
Wed, 26 May 2021 19:03:00 +0000
The activist investor is backing the insurer’s moves to cut costs and sell more products directly to consumers.

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