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Market Vectors Gold Miners (GDX) Showing Bearish Technicals With Support At $22.17

May 19, 2017 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center are highlighting two trades on Market Vectors Gold Miners (<a href="">GDX</a>) today after it closed at $22.64 on May 18, 2017. For more conservative investors, look at a covered call using the Sep 15, 2017 $22 call for a net debit of about $20.62. This trade will return 6.64% (20.36% annualized, for comparison purposes only) as long as the stock closes above $22 at expiration. Market Vectors Gold MinersAcan fall 8.91% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 19, 2018 $16 call taking the place of the long stock position and the same short position in the Sep 15, 2017 $22 call. This trade only costs about $5.12 to get into and the rate of return increases to 16.95% (20.36% annualized, for comparison purposes only) but the downside protection falls to 6.71%.

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