Western Digital (WDC) Offering Possible 14.42% Return Over the Next 8 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 $83.50 short put and a strike $78.50 long put offers a potential 14.42% 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 $83.50 by expiration. The full premium credit of $0.63 would be kept by the premium seller. The risk of $4.37 would be incurred if the stock dropped below the $78.50 long put strike price.

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

The RSI indicator is at 74.63 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 Western Digital

Broadcom Said to Win Japan Banks’ Backing for Toshiba Chip Bid
Thu, 13 Apr 2017 04:36:50 +0000
Broadcom Ltd. has lined up financing from three Japan banks and private-equity firm Silver Lake as it bids for Toshiba Corp.’s semiconductor business, according to people familiar with the matter.

[$$] Western Digital Deals Struggling Toshiba a New Headache
Thu, 13 Apr 2017 04:03:24 +0000
Western Digital has told Toshiba it believes it can block any Toshiba sale affecting their joint venture making semiconductors, a person familiar with the matter said, a new headache for the struggling …

Toshiba said to Narrow Chips Bids to Four Companies
Thu, 13 Apr 2017 00:17:31 +0000
Apr.12 — Toshiba is said to have narrowed bids for its chips business to Western Digital, Hon Hai, SK Hynix, and Broadcom, Yomiuri reports, citing an unidentified official. Bloomberg's Peter Elstrom reports on "Bloomberg Daybreak: Asia."

Toshiba Plans for Chip Sale Hit Snag as Western Digital Objects
Wed, 12 Apr 2017 20:35:09 +0000
Toshiba Corp.’s plans to sell its memory chip business to raise much-needed cash hit a snag as joint-venture partner Western Digital Corp. said the sale may violate the companies’ contract.

Seagate, Western Can Withstand Any Bump in the Cloud, Says Barclays
Wed, 12 Apr 2017 18:26:00 +0000
Cloud computing is an increasingly important market for hard drive makers Seagate Technology (STX) and Western Digital (WDC), and today Barclays analyst Mark Moskowitz offers his thoughts on what would happen should the market for storage  in cloud cool. “While hyperscale has been a growth driver for both models,” writes Moskowitz, “any potential deceleration is not overly detrimental due to the relative strength compared to anticipated declines in other HDD segments (i.e., compute, performance, and client non-compute).” Moskowitz, who has an Overweight rating on Western stock, and an Equal Weight on Seagate, estimates that cloud is presently a higher proportion of revenue for Seagate, about a fifth of its revenue, but meainginful fo both: Enterprise drives, which are increasingly cloud related, have been growing in importance for both Seagate and WD revenue and more importantly profitability.

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