Progressive (PGR) Offering Possible 17.65% Return Over the Next 21 Calendar Days

Progressive's most recent trend suggests a bullish bias. One trading opportunity on Progressive is a Bull Put Spread using a strike $85.00 short put and a strike $80.00 long put offers a potential 17.65% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $85.00 by expiration. The full premium credit of $0.75 would be kept by the premium seller. The risk of $4.25 would be incurred if the stock dropped below the $80.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Progressive 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 Progressive 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 Progressive

Progressive Announces Investor Relations Conference Call
Wed, 29 Jul 2020 17:17:00 +0000
MAYFIELD VILLAGE, OHIO, July 29, 2020 (GLOBE NEWSWIRE) — As previously announced, The Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on Wednesday, August 5, 2020, beginning at 10:00 a.m. eastern time. Consistent with the first quarter 2020 Investor Relations call, this quarterly call, which will consist of both a conference call and an audio only webcast, is scheduled to last 60 minutes and will include a question and answer session with Tricia Griffith, our CEO, and John Sauerland, our CFO. Call-in participants will be able to ask questions via the phone. Participants via the webcast will be in a listen-only format and, therefore, will not be able to submit questions. On August 4, 2020, Progressive expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission and post its Shareholders’ Report, including the Letter to Shareholders from Tricia Griffith, to its website at www.progressive.com/annualreport.To receive the necessary call-in details or link to the webcast, visit Progressive’s website at https://investors.progressive.com/events?c=81824&p=irol-calendar.Replays of the conference call, both through the webcast and by phone, will be available approximately two hours after the call concludes. The archived webcast will be able to be accessed from Progressive’s website at https://investors.progressive.com/events?c=81824&p=irol-calendar and will remain available until August 6, 2021. The phone replay will be available until August 21, 2020; call-in details for the replay will be available on our events page.About Progressive The 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 Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143 http://www.progressive.com

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