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First Trust NYSE Arca Biotech Index (FBT) Trading Near $128.84 Support Level

Feb 07, 2018 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligececenter.com's patented algorithm on First Trust NYSE Arca Biotech Index (<a href="http://www.marketintelligencecenter.com/symbol/FBT">FBT</a>) could yield about 2.64% (26.10% annualized, for comparison purposes only) in 37 days. Pair a long position in the stock with the Mar 16, 2018 $135 call for a net debit of about $131.52. This position also has 3.02% downside protection. First Trust NYSE Arca Biotech Index closed at $135.61 Feb 6, 2018. Technical indicators for FBT are bearish and support and resistance have been about $128.84 and $139.14, respectively.A

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