Seagate (STX) Offering Possible 10.13% Return Over the Next 27 Calendar Days

Seagate's most recent trend suggests a bullish bias. One trading opportunity on Seagate is a Bull Put Spread using a strike $62.50 short put and a strike $57.50 long put offers a potential 10.13% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $62.50 by expiration. The full premium credit of $0.46 would be kept by the premium seller. The risk of $4.54 would be incurred if the stock dropped below the $57.50 long put strike price.

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

The RSI indicator is above 80 which suggests that the stock is in overbought 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

LATEST NEWS for Seagate

Seagate (STX) Stock Moves -0.51%: What You Should Know
Wed, 09 Dec 2020 22:50:10 +0000
In the latest trading session, Seagate (STX) closed at $63.53, marking a -0.51% move from the previous day.

Seagate Designs RISC-V Cores to Power Data Mobility and Trustworthiness
Tue, 08 Dec 2020 18:00:00 +0000
Seagate Designs RISC-V Cores to Power Data Mobility and Trustworthiness

Seagate Announces Pricing of $1 Billion of Senior Unsecured Notes
Fri, 04 Dec 2020 02:32:00 +0000
Seagate HDD Cayman (the “Company”), a subsidiary of Seagate Technology plc (NASDAQ: STX) (“Seagate”), announced that it priced its earlier announced offering of $500 million aggregate principal amount of senior notes due 2029 (the “2029 Notes”) and $500 million aggregate principal amount of senior notes due 2031 (the “2031 Notes” and, together with the 2029 Notes, the “Notes”). The 2029 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.125% per annum. The 2031 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.375% per annum. The Notes will be guaranteed by Seagate.

Seagate HDD Cayman — Moody's downgrades Seagate's senior unsecured rating to Ba1; outlook stable
Wed, 02 Dec 2020 15:37:08 +0000
Moody's Investors Service (“Moody's”) downgraded Seagate HDD Cayman's (Seagate) senior unsecured ratings to Ba1 from Baa3. Moody's concurrently assigned a Ba1 Corporate Family Rating (CFR), a Ba1-PD Probability of Default Rating, and an SGL-1 Speculative Grade Liquidity rating.

Seagate to offer $1 billion in nine-year bonds
Wed, 02 Dec 2020 12:40:00 +0000
Seagate HDD Cayman, a unit of Seagate Technology plc is planning to offer $1 billion in senor notes that mature in 2029, joining the many companies issuing record levels of debt during the pandemic. Proceeds will be used to repurchase stock and for general corporate purposes, including the repayment of debt, capex and other investments in its business. Share were not active premarket, but have gained 1.3% in the year to date, while the S&P 500 has gained 13%.

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