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Apex Silver Mines (SIL) Trading Near $30.78 Resistance Level

Jun 07, 2018 ( via COMTEX) --

For a hedged play on Apex Silver Mines (<a href="">SIL</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Oct 19, 2018 $30 covered call for a net debit in the $28.60 area. That is also the break-even stock price for the covered call. This trade will return 4.89%, or 13.33% annualized (for comparison purposes only), in 134 days. This covered call also provides 6.38% downside protection. A lower-cost play on Apex Silver Mines would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $25 call and the same sold call for a net debit of $4.29.This trade only has 4.09% downside protection, but the assigned return rate rises to 16.27% or an annualized rate of 44.34% (for comparison purposes only). The current 52-week low is $28.21 and the 52-week high is $36.55. Apex Silver Mines stock has been showing support around $30.30 and resistance in the $30.78 range. The stock closed Jun 6, 2018's trading session at $30.54.A

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