Return to News Categories

Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Canadian Natural Resources (CNQ) Trading Near $37.10 Resistance Level

Nov 08, 2017 ( via COMTEX) --'s patented algorithms have identified an attractive covered-call trade on Canadian Natural Resources (<a href="">CNQ</a>). Look at the Dec 15, 2017 $36 covered call for a net debit in the $35.03 area.<br /> <br /> This trade has a duration of 37 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.17% downside protection. If the stock closes at or above $36 at expiration this trade will return 2.76% or 27.31% annually (for comparison purposes only). <br /> <br /> If you're interested in a lower-cost hedged trade on Canadian Natural Resources, consider buying the Jan 18, 2019 $15 call and selling the Dec 15, 2017 $36 call for a net debit of $20.50. A<br /> <br /> This hedged trade uses a longer-term bought call instead of the long stock position in a traditional covered call. The hedged trade lasts 37 days and would provide 1.87% downside protection. If Canadian Natural Resources is at or above $36 when the market closes in Dec 15, 2017, this trade will make a full return of 2.43% of the initial capital at risk for an annualized return rate of 24.06% (for comparison purposes only).<br /> <br /> CNQ closed Nov 7, 2017's trading session at $36.18. In the past year, the stock has hit a 52-week low of $27.52 and 52-week high of $36.79. Canadian Natural Resources stock has been showing support around $35.56 and resistance in the $37.10 range. Technical indicators for the stock are bearish and S&P gives CNQ 5 STARS (out of 5) strong buy ranking.

(C) Copyright 2017, All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 56.68
Nat Gas 3.132
Corn 343
Cotton #2 69.35
Gold 1294.4
Copper 3.0715
Euro 1.18085
USD Index 93.575
SP500 E-mini 2575.75
DJIA E-mini 23316