Southern Company (SO) Offering Possible 5.93% Return Over the Next 8 Calendar Days

Southern Company's most recent trend suggests a bullish bias. One trading opportunity on Southern Company is a Bull Put Spread using a strike $58.50 short put and a strike $53.50 long put offers a potential 5.93% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $58.50 by expiration. The full premium credit of $0.28 would be kept by the premium seller. The risk of $4.72 would be incurred if the stock dropped below the $53.50 long put strike price.

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

The RSI indicator is at 76.01 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 Southern Company

Georgia Power and coalition of Georgia businesses urge passage of hate crimes legislation
Mon, 08 Jun 2020 18:00:00 +0000
Georgia Power, along with a coalition of leading Georgia businesses, have signed a letter asking the Georgia General Assembly to support, approve and sign into law a comprehensive, specific and clear bill against hate crimes.

Southern’s Nuke Project ‘Highly Unlikely’ to Meet Deadlines
Mon, 08 Jun 2020 13:58:38 +0000
(Bloomberg) — Southern Co.’s long-troubled project to expand its Vogtle nuclear plant in Georgia is “highly unlikely” to meet state deadlines and is apt to face additional budget overruns, according to a local monitor.The company is no longer on pace to complete the two reactors by November 2021 and November 2022 deadlines approved by the Georgia Public Service Commission, Don Grace, a vice president of engineering for the Vogtle Monitoring Group, said in filed testimony. He also estimated that the project’s cost would exceeded its current $17.1 billion target.It would be yet another blow for the Vogtle expansion, which began in 2009, has already doubled in price and is running more than five years behind schedule. The monitoring group’s analysis doesn’t even take into account the impact of the coronavirus. It was completed in mid-March, before Southern and its partners slashed the workforce by 20% in April after dozens fell ill.Read More: Southern Slashes Workforce at Nuclear Project Amid OutbreakJeff Wilson, a spokesperson for Southern’s Georgia Power unit, said Vogtle remains on schedule and at budget. Southern shares rose 0.9% at 9:49 a.m. in New York.“The project is continuing its strategy of utilizing an aggressive site work plan as a tool to help us achieve the November regulatory-approved dates,” Wilson said in an email. “The total project capital cost forecast remains unchanged.”Yet the monitoring group said Southern’s strategy to speed up testing before finishing much of the construction at the plant led to inefficiency and higher costs, according to the report. The company “erroneously concluded that deviation from normal industry practice would shorten the schedule,” Grace said.The staff of Georgia Public Service Commission also disputes more than $1.2 billion in costs that Southern plans to pass along to customers immediately after the completion of Unit 3 of the project, according to separate filed testimony. The utility wants to start recouping $2.3 billion of costs in rates in the month after Unit 3 begins operation.Shares of Southern are down about 8% this year, compared to the S&P 500 Utility Index’s 5.8% decline.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Hedge Funds Have Never Been More Bullish On The Southern Company (SO)
Wed, 03 Jun 2020 00:57:09 +0000
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]

Edited Transcript of SO earnings conference call or presentation 30-Apr-20 5:00pm GMT
Tue, 02 Jun 2020 02:58:37 +0000
Q1 2020 Southern Co Earnings Call

Georgia Power customers to see $21 reduction on June bills
Mon, 01 Jun 2020 15:47:00 +0000
Georgia Power today announced that the typical residential customer using 1,000-kilowatt hours will receive an $11.29 credit on their June Georgia Power bill. This reflects implementation of a one-time $51.5 million credit for customers, approved by the Georgia Public Service Commission (PSC), as a result of Georgia Power's 2018 financial results.

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