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First Trust NYSE Arca Biotech Index (FBT) Showing Bearish Technicals With Support At $135.92

Mar 06, 2018 ( via COMTEX) --

For a hedged play on First Trust NYSE Arca Biotech Index (<a href="">FBT</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 20, 2018 $139 covered call for a net debit in the $134.94 area. That is also the break-even stock price for the covered call. This trade will return 3%, or 24.34% annualized (for comparison purposes only), in 45 days. This covered call also provides 3.08% downside protection. The current 52-week low is $100.90 and the 52-week high is $147.10. First Trust NYSE Arca Biotech Index stock has been showing support around $135.92 and resistance in the $141.10 range. The stock closed Mar 5, 2018's trading session at $139.25.A

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