Severe Storms Cut Into Insurance Name's Profit

Travelers Companies posted a first-quarter earnings miss

Deputy Editor
Apr 17, 2024 at 11:02 AM
facebook X logo linkedin


The shares of Travelers Companies Inc (NYSE:TRV) are sliding today, after the insurance company's first-quarter earnings miss. Severe storms in the U.S. drove up catastrophe losses, though investment income and strong underwriting help offset the damage. At last glance, TRV was down 7.3% at $206.88, earlier as low as $202.60 -- coming close to erasing its January post-earnings bull gap. 

This negative price action has the stock tearing below recent support at its 60-day moving average, which it hasn't closed below since late October. Several long-term moving averages linger below as potential layers of support, however, including the 120-day trendline. Since the start of the year, the equity is up 7.7%. 

In the options pits today, Travelers Companies stock has already seen 5.1 times its average daily options volume. The April 220 put is the most popular, with new positions opening at the April 200 put. 

 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!