Western Digital (WDC) Offering Possible 25.94% Return Over the Next 16 Calendar Days

Western Digital's most recent trend suggests a bullish bias. One trading opportunity on Western Digital is a Bull Put Spread using a strike $58.00 short put and a strike $53.00 long put offers a potential 25.94% return on risk over the next 16 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $58.00 by expiration. The full premium credit of $1.03 would be kept by the premium seller. The risk of $3.97 would be incurred if the stock dropped below the $53.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Western Digital 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 up which suggests that the medium-term momentum for Western Digital 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 Western Digital

Micron Slips Despite FYQ4 Beat, Blow-Out Outlook
Tue, 04 Oct 2016 20:21:00 GMT
Barrons.com – Shares of DRAM and NAND memory-chip maker Micron Technology (MU) initially rose frationally in late trading, then gave up gains, after the company this afternoon beat fiscal Q4 expectations, and forecast this quarter's results well above consensus.

Cramer's Stop Trading: WDC and MU
Tue, 04 Oct 2016 13:56:00 GMT

Western Digital (WDC) Stock Closed Higher, Price Target Increased at RBC
Mon, 03 Oct 2016 20:26:00 GMT
TheStreet – Western Digital's (WDC) stock price target was raised to $65 at RBC today.

Western Digital, Seagate Price Targets Raised As Storage Stabilizes
Mon, 03 Oct 2016 20:20:17 GMT

Qualcomm, Seagate, Western Digital PTs Raised; Gilead Cut
Mon, 03 Oct 2016 20:13:06 GMT

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