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Junior Gold Miners ETF Vaneck (GDXJ) Showing Bearish Technicals With Support At $32.44

Nov 09, 2017 (Marketintelligencecenter.com via COMTEX) --

After Nov 8, 2017aEUR(TM)s trading in Junior Gold Miners ETF Vaneck (<a href="http://www.marketintelligencecenter.com/symbol/GDXJ">GDXJ</a>) MarketIntelligenceCenter.com's option trade-picking algorithms uncovered a trade that offers a 3.86% or 19.85% (for comparison purposes only), while providing 5.80% downside protection. The trade is a Jan 19, 2018 covered call at the $32 level for a net debit of about $30.81. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $15 level. By buying the call for $18.14 instead of paying about $32.70 for the stock, the assigned return rate for this alternate trade is 4.61%, but the stock has to finish above $31.25 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $32.44 and $33.16, respectively.

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