Range Resources Offering Possible 14.94% Return Over the Next 12 Calendar Days

Range Resources's most recent trend suggests a bullish bias. One trading opportunity on Range Resources is a Bull Put Spread using a strike $75.00 short put and a strike $70.00 long put offers a potential 14.94% return on risk over the next 12 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $75.00 by expiration. The full premium credit of $0.65 would be kept by the premium seller. The risk of $4.35 would be incurred if the stock dropped below the $70.00 long put strike price.

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

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

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

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