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Direxion Natural Gas Bear 3X (GASX) Showing Bearish Technicals With Resistance At $40.90

Sep 13, 2017 ( via COMTEX) --

For a hedged play on Direxion Natural Gas Bear 3X (<a href="">GASX</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Oct 20, 2017 $39 covered call for a net debit in the $37.71 area. That is also the break-even stock price for the covered call. This trade will return 3.39%, or 33.47% annualized (for comparison purposes only), in 37 days. This covered call also provides 3.57% downside protection. The current 52-week low is $17.73 and the 52-week high is $47.19. Direxion Natural Gas Bear 3X stock has been showing support around $37.21 and resistance in the $40.90 range. The stock closed Sep 12, 2017's trading session at $39.11.A

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