Bearish Options Activity in Progressive Corp. (PGR) Ahead of Tomorrow's Monthly Sales Data Release -Susquehanna

Susquehanna options strategist Alison Edwards notes bearish options activity in Progressive Corp. (NYSE: PGR) ahead of tomorrow's monthly sales and revenue data release, as an opening investor bought 5k Jun 60 Puts for $0.725. This investor breaks even in the event of a 4.5% pullback through mid-June and could be protecting shares given the ~12.6% YTD total return.

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