CBS Corp (CBS) Offering Possible 13.12% Return Over the Next 8 Calendar Days

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CBS Corp’s most recent trend suggests a bullish bias. One trading opportunity on CBS Corp is a Bull Put Spread using a strike $52.50 short put and a strike $47.50 long put offers a potential 13.12% 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 $52.50 by expiration. The full premium credit of $0.58 would be kept by the premium seller. The risk of $4.42 would be incurred if the stock dropped below the $47.50 long put strike price.

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

The RSI indicator is at 28.22 level which suggests that the stock is neither overbought nor oversold at this time.

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CBS Corp. is seeking information from AT&T Inc. about conversations it had in 2016 with National Amusements Inc., the controlling shareholder of CBS, about a potential acquisition of the media company, according to a court filing. A CBS subpoena, filed Tuesday in Delaware Chancery Court, comes as the company is in a legal battle with National Amusements and its president, Shari Redstone, for control of the company. One of CBS’s arguments in trying to strip National Amusements of voting control is that Ms. Redstone has tried to force CBS to merge with embattled sister company Viacom Inc., while passing up opportunities for other deals that would be better for shareholders.

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CBS Seen Rising 9% Despite Cloud Over CEO Moonves
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