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Callon Petroleum (CPE) Trading Near $12.89 Resistance Level

Jan 03, 2018 ( via COMTEX) --

For a hedged play on Callon Petroleum (<a href="">CPE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jul 20, 2018 $11 covered call for a net debit in the $10.05 area. That is also the break-even stock price for the covered call. This trade will return 9.45%, or 17.42% annualized (for comparison purposes only), in 198 days. This covered call also provides 19.60% downside protection. The current 52-week low is $9.34 and the 52-week high is $16.32. Callon Petroleum stock has been showing support around $12.03 and resistance in the $12.89 range. The stock closed Jan 2, 2018's trading session at $12.50.A

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