Progressive (PGR) Offering Possible 17.19% Return Over the Next 29 Calendar Days

Progressive's most recent trend suggests a bullish bias. One trading opportunity on Progressive is a Bull Put Spread using a strike $105.00 short put and a strike $97.50 long put offers a potential 17.19% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $105.00 by expiration. The full premium credit of $1.10 would be kept by the premium seller. The risk of $6.40 would be incurred if the stock dropped below the $97.50 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 72.85 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

David Rolfe's Top 6 Trades of the 1st Quarter
Tue, 18 May 2021 21:55:47 +0000
Guru takes stakes in Old Dominion and Booking Holdings, adds to Progressive

This Stock Is a Money-Making Machine in an Industry Warren Buffett Loves
Tue, 18 May 2021 15:28:00 +0000
Progressive has posted impressive margins for years, and is handily beating the S&P 500 in the process.

Ajit Jain on Where GEICO Has Gone Wrong in Recent Years
Fri, 14 May 2021 17:11:34 +0000
According to Jain, the insurance company fell behind in risk pricing

Tweedy Browne Adds Fresenius, Progressive to Portfolio
Mon, 10 May 2021 20:35:14 +0000
Firm releases 1st-quarter trades

Progressive Announces Common Share Dividend and Share Repurchase Authorization
Mon, 10 May 2021 20:01:00 +0000
MAYFIELD VILLAGE, OHIO, May 10, 2021 (GLOBE NEWSWIRE) — On May 7, 2021, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a $0.10 per common share quarterly dividend, payable July 15, 2021, to shareholders of record at the close of business on July 7, 2021 (ex-dividend date of July 6, 2021). The Board also renewed the Company's authorization to repurchase up to 25 million of its common shares. This authorization, which does not have an expiration date, replaced the prior authorization, which was terminated. About ProgressiveThe Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it’s most convenient – online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent. Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers. Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR. Company Contact:Douglas S. Constantine(440) 910-3563 The Progressive Corporation6300 Wilson Mills RoadMayfield Village, Ohio 44143http://www.progressive.com

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