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Apex Silver Mines (SIL) Trading Near $29.99 Support Level

Jun 13, 2018 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on Apex Silver Mines (<a href="http://www.marketintelligencecenter.com/symbol/SIL">SIL</a>) could yield about 5.70% (16.27% annualized, for comparison purposes only) in 128 days. Pair a long position in the stock with the Oct 19, 2018 $30 call for a net debit of about $28.37. This position also has 5.80% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 18, 2019 $23 call for a net debit of about $5.89. While this trade has a higher yield at 18.64%, the downside protection falls to 5.80%. Apex Silver Mines closed at $30.12 Jun 12, 2018. Technical indicators for SIL are bearish and support and resistance have been about $29.99 and $30.37, respectively.A

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