Financial giants have made a conspicuous bearish move on Progressive. Our analysis of options history for Progressive revealed 11 unusual trades.

Delving into the details, we found 18% of traders were bullish, while 72% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $375,659, and 4 were calls, valued at $191,861.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $230.0 to $290.0 for Progressive during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Progressive stands at 792.6, with a total volume reaching 4,860.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Progressive, situated within the strike price corridor from $230.0 to $290.0, throughout the last 30 days.

Progressive Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Progressive

Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 24 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

In light of the recent options history for Progressive, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Progressive

With a trading volume of 2,666,913, the price of PGR is down by -2.1%, reaching $260.19.

Current RSI values indicate that the stock is is currently neutral between overbought and oversold.

Next earnings report is scheduled for 27 days from now.

What The Experts Say On Progressive

1 market experts have recently issued ratings for this stock, with a consensus target price of $291.0.

Unusual Options Activity Detected: Smart Money on the Move

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* An analyst from UBS has decided to maintain their Neutral rating on Progressive, which currently sits at a price target of $291.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Progressive options trades with real-time alerts from Benzinga Pro.