Western Digital (WDC) Offering Possible 36.24% Return Over the Next 8 Calendar Days

view original post

Western Digital’s most recent trend suggests a bearish bias. One trading opportunity on Western Digital is a Bear Call Spread using a strike $58.00 short call and a strike $63.00 long call offers a potential 36.24% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $58.00 by expiration. The full premium credit of $1.33 would be kept by the premium seller. The risk of $3.67 would be incurred if the stock rose above the $63.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Western Digital 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 down which suggests that the medium-term momentum for Western Digital is bearish.

The RSI indicator is at 65.76 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

Western Digital (WDC) Announces 22TB & 26TB UltraSMR HDDs
Tue, 10 May 2022 14:35:02 +0000
Western Digital (WDC) announces that it has been “sampling” its latest 22TB and 26TB UltraSMR HDDs for select hyperscale cloud customers.

Western Digital Unleashes New Era of Growth for Cloud Market With World’s First 22TB CMR and 26TB UltraSMR HDDs
Mon, 09 May 2022 16:00:00 +0000
SAN FRANCISCO, May 09, 2022–What’s Next Western Digital Event – Building on significant technology innovations cultivated over decades, Western Digital (NASDAQ: WDC) today announced that it is sampling its new industry-leading 22TB¹ and 26TB UltraSMR HDDs to select hyperscale cloud customers, further expanding its areal density leadership and delivering customer value by driving TCO lower.

Western Digital Details Mission to Unlock the Potential of Data
Mon, 09 May 2022 16:00:00 +0000
SAN FRANCISCO, May 09, 2022–What’s Next Western Digital Event – At its What’s Next Western Digital event held today at The Ritz-Carlton San Francisco, Western Digital Corp. (NASDAQ: WDC) detailed its mission to unlock the potential of data by harnessing the possibility to use it. In a series of keynotes delivered by company leaders, Western Digital also unveiled breakthrough HDD and Flash innovations inspired by the ways individuals and businesses use data to create what’s next.

This Investor Thinks Western Digital Can Nearly Double if It Does This 1 Thing
Mon, 09 May 2022 13:15:00 +0000
After all, Warren Buffett is doing just that, playing merger arbitrage with Activision Blizzard, betting its merger goes through later this year. Last week, activist hedge fund Elliott Management revealed it had invested $1 billion in storage maker Western Digital (NASDAQ: WDC), and then disclosed its letter to management, which proposes the company split its business in two. Elliott believes Western Digital should essentially undo its 2016 acquisition of SanDisk.

How Western Digital Rose 6.9% During a Terrible April for the Markets
Sun, 08 May 2022 15:15:00 +0000
The memory maker delivered a solid earnings report and above-consensus guidance, and attracted an activist investor.

Related Posts