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Junior Gold Miners ETF Vaneck (GDXJ) Showing Bearish Technicals With Support At $30.66

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

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on Junior Gold Miners ETF Vaneck (<a href="http://www.marketintelligencecenter.com/symbol/GDXJ">GDXJ</a>) could yield about 7.22% (26.92% annualized, for comparison purposes only) in 98 days. Pair a long position in the stock with the May 18, 2018 $31 call for a net debit of about $28.90. This position also has 7.72% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 18, 2019 $24 call for a net debit of about $6.58. While this trade has a higher yield at 6.38%, the downside protection falls to 7.72%. Junior Gold Miners ETF Vaneck closed at $31.32 Feb 8, 2018. Technical indicators for GDXJ are bearish and support and resistance have been about $30.66 and $32.16, respectively.A

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