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Encore Wire (WIRE) Trading Near $48.57 Resistance Level

Feb 09, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Encore Wire (<a href="http://www.marketintelligencecenter.com/symbol/WIRE">WIRE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the May 18, 2018 $45 covered call for a net debit in the $42.80 area. That is also the break-even stock price for the covered call. This trade will return 5.14%, or 19.14% annualized (for comparison purposes only), in 98 days. This covered call also provides 7.15% downside protection. The current 52-week low is $37.30 and the 52-week high is $52.65. Encore Wire stock has been showing support around $44.87 and resistance in the $48.57 range. The stock closed Feb 8, 2018's trading session at $46.09.A

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