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Apex Silver Mines (SIL) Trading Near $30.47 Resistance Level

Jun 12, 2018 ( via COMTEX) --

After Jun 11, 2018aEUR(TM)s trading in Apex Silver Mines (<a href="">SIL</a>)'s option trade-picking algorithms uncovered a trade that offers a 5.44% or 15.41% (for comparison purposes only), while providing 6.10% downside protection. The trade is a Oct 19, 2018 covered call at the $30 level for a net debit of about $28.44. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $25 level. By buying the call for $5.95 instead of paying about $30.29 for the stock, the assigned return rate for this alternate trade is 21.95%, but the stock has to finish above $29.10 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $30.06 and $30.47, respectively.

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