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Callon Petroleum (CPE) Trading Near $11.40 Support Level

Nov 10, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Callon Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/CPE">CPE</a>). Look at the Apr 20, 2018 $11 covered call for a net debit in the $10 area.<br /> <br /> This trade has a duration of 161 days. The break-even point of this trade is the same as the net debit, which gives this trade 15.61% downside protection. If the stock closes at or above $11 at expiration this trade will return 10% or 22.67% (for comparison purposes only). <br /> <br /> CPE closed Nov 9, 2017's trading session at $11.85. In the past year, the stock has hit a 52-week low of $9.34 and 52-week high of $18.53. Callon Petroleum stock has been showing support around $11.40 and resistance in the $12.28 range. Recent technical indicators for the stock are bearish.

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