NetApp (NTAP) Offering Possible 6.84% Return Over the Next 13 Calendar Days

NetApp's most recent trend suggests a bullish bias. One trading opportunity on NetApp is a Bull Put Spread using a strike $43.50 short put and a strike $38.50 long put offers a potential 6.84% return on risk over the next 13 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $43.50 by expiration. The full premium credit of $0.32 would be kept by the premium seller. The risk of $4.68 would be incurred if the stock dropped below the $38.50 long put strike price.

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

The RSI indicator is at 54.42 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 NetApp

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NetApp prices $2 billion in senior notes, with maturities of 5 years to 10 years
Thu, 18 Jun 2020 13:33:00 +0000
NetApp Inc. said Thursday that its offering of $2 billion in senior notes has priced, with maturities ranging from 2025 to 2030, and is expected to close on June 22. The cloud data services company is selling $750 million in 1.875% notes due 2025, $500 million in 2.375% in notes due 2027 and $700 million in 2.700% notes due 2030. In comparison, 5-year Treasury notes yielded 0.34% as of Wednesday's close and the 10-year notes yielded 0.74%. NetApp's credit is rated BBB+ at S&P Global Ratings, or 3 notches above "junk" territory. NetApp said it will use the proceeds from its notes offering for general corporate purposes, including repaying $500 million in 3.375% senior notes due 2021. The stock fell 1.2% in morning trading. It has dropped 31.5% year to date, while the S&P 500 has lost 4.0%.

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