Nucor Corporation (NUE) Offering Possible 13.64% Return Over the Next 8 Calendar Days

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Nucor Corporation’s most recent trend suggests a bullish bias. One trading opportunity on Nucor Corporation is a Bull Put Spread using a strike $78.00 short put and a strike $73.00 long put offers a potential 13.64% 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 $78.00 by expiration. The full premium credit of $0.60 would be kept by the premium seller. The risk of $4.40 would be incurred if the stock dropped below the $73.00 long put strike price.

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

The RSI indicator is at 74.83 level which suggests that the stock is neither overbought nor oversold at this time.

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