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British Pound Sterling Trust (FXB) Showing Support Near $134.69

Mar 07, 2018 ( via COMTEX) --

After Mar 6, 2018aEUR(TM)s trading in British Pound Sterling Trust (<a href="">FXB</a>)'s option trade-picking algorithms uncovered a trade that offers a 2.74% or 5.06% (for comparison purposes only), while providing 3.33% downside protection. The trade is a Sep 21, 2018 covered call at the $134 level for a net debit of about $130.41. 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 $121 level. By buying the call for $16.10 instead of paying about $134.91 for the stock, the assigned return rate for this alternate trade is 12.06%, but the stock has to finish above $132.59 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 $134.69 and $135.17, respectively.

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