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Market Vectors Gold Miners (GDX) Showing Bearish Technicals With Support At $22.01

May 16, 2018 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center Aare highlighting two trades on Market Vectors Gold Miners (<a href="">GDX</a>) today after it closed at $22.26 on May 15, 2018. For more conservative investors, look at a covered call using the Sep 21, 2018 $22 call for a net debit of about $20.86. This trade will return 5.46% (15.58% annualized, for comparison purposes only) as long as the stock closes above $22 at expiration. Market Vectors Gold Miners can fall 6.28% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $18 call taking the place of the long stock position and the same short position in the Sep 21, 2018 $22 call. This trade only costs about $3.50 to get into and the rate of return increases to 14.28% (15.58% annualized, for comparison purposes only) but the downside protection falls to 3.41%.

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