Mar 20, 2017 (Marketintelligencecenter.com via COMTEX) --
For a hedged play on China Petroleum and Chemcial (<a href="http://www.marketintelligencecenter.com/symbol/SNP">SNP</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jul 21, 2017 $75 covered call for a net debit in the $72.45 area. That is also the break-even stock price for the covered call. This trade will return 3.50%, or 10.40% annualized (for comparison purposes only), in 123 days. This covered call also provides 5.46% downside protection. The current 52-week low is $60.24 and the 52-week high is $81.64. China Petroleum and Chemcial stock has been showing support around $76.29 and resistance in the $77.35 range. The stock closed Mar 17, 2017's trading session at $76.65.A
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