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Callon Petroleum (CPE) Showing Bearish Technicals With Resistance At $12.10

Mar 07, 2018 ( via COMTEX) --

For a hedged play on Callon Petroleum (<a href="">CPE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Oct 19, 2018 $11 covered call for a net debit in the $9.76 area. That is also the break-even stock price for the covered call. This trade will return 12.58%, or 20.33% annualized (for comparison purposes only), in 226 days. This covered call also provides 16.99% downside protection. The current 52-week low is $9.34 and the 52-week high is $13.92. Callon Petroleum stock has been showing support around $11.57 and resistance in the $12.10 range. The stock closed Mar 6, 2018's trading session at $11.77.A

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