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

May 16, 2018 ( via COMTEX) --

For a hedged play on Junior Gold Miners ETF Vaneck (<a href="">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

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