Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Junior Gold Miners ETF Vaneck (GDXJ) Showing Resistance Near $33.28

May 16, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Junior Gold Miners ETF Vaneck (<a href="http://www.marketintelligencecenter.com/symbol/GDXJ">GDXJ</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Aug 17, 2018 $32 covered call for a net debit in the $30.67 area. That is also the break-even stock price for the covered call. This trade will return 4.30%, or 16.88% annualized (for comparison purposes only), in 93 days. This covered call also provides 6.60% downside protection. A lower-cost play on Junior Gold Miners ETF Vaneck would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $20 call and the same sold call for a net debit of $11.67.This trade only has 3.56% downside protection, but the assigned return rate rises to 2.73% or an annualized rate of 10.75% (for comparison purposes only). The current 52-week low is $29.84 and the 52-week high is $37.76. Junior Gold Miners ETF Vaneck stock has been showing support around $32.36 and resistance in the $33.28 range. The stock closed May 15, 2018's trading session at $32.84.A

(C) Copyright 2018, Marketintelligencecenter.com. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 71.67
Nat Gas 2.919
Corn 409
Cotton #2 86.97
Gold 1294.4
Copper 3.0750
Euro 1.17180
USD Index 93.855
SP500 E-mini 2723.25
DJIA E-mini 24778
close_icon
open_icon