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Callon Petroleum (CPE) Trading Near $12 Resistance Level

Mar 08, 2018 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on Callon Petroleum (<a href="">CPE</a>). Look at the Oct 19, 2018 $11 covered call for a net debit in the $9.78 area.<br /> <br /> This trade has a duration of 225 days. The break-even point of this trade is the same as the net debit, which gives this trade 16.62% downside protection. If the stock closes at or above $11 at expiration this trade will return 12.47% or 20.23% (for comparison purposes only). <br /> <br /> CPE closed Mar 7, 2018's trading session at $11.72. In the past year, the stock has hit a 52-week low of $9.34 and 52-week high of $13.92. Callon Petroleum stock has been showing support around $11.46 and resistance in the $12 range. Recent technical indicators for the stock are bearish.

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