Looking At Progressive's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Progressive (NYSE:PGR) as indicated by unusual options activity. The overall sentiment of these big-money traders is 30% bullish and 70% bearish. The whales have been targeting a price range from $130.0 to $160.0 for Progressive over the last 3 months. The current price of PGR is down -1.64% at $153.86. Analysts from various firms have maintained their ratings on Progressive with price targets ranging from $135 to $165.
October 26, 2023 | 8:46 pm
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Unusual options activity indicates a bearish stance on Progressive. The sentiment of big-money traders is 70% bearish. Analysts have maintained their ratings with price targets ranging from $135 to $165.
The unusual options activity, which is heavily bearish, indicates that there may be a negative sentiment towards Progressive. This could potentially lead to a decrease in the stock price. Additionally, the price targets set by analysts are within the range targeted by the options traders, further supporting this view.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100