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Marathon Petroleum (MPC) Trading Near $61.90 Support Level

Nov 07, 2017 ( via COMTEX) --

For a hedged play on Marathon Petroleum (<a href="">MPC</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Jan 19, 2018 $60 covered call for a net debit in the $58.64 area. That is also the break-even stock price for the covered call. This trade will return 2.30%, or 11.50% annualized (for comparison purposes only), in 73 days. This covered call also provides 5.93% downside protection. A lower-cost play on Marathon Petroleum would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $25 call and the same sold call for a net debit of $34.19.This trade only has 5.05% downside protection, but the assigned return rate rises to 2.33% or an annualized rate of 11.69% (for comparison purposes only). The current 52-week low is $41.43 and the 52-week high is $62.78. Marathon Petroleum stock has been showing support around $61.90 and resistance in the $62.76 range. The stock closed Nov 6, 2017's trading session at $62.34.A

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