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Market Vectors Gold Miners (GDX) Showing Bearish Technicals With Support At $23.21

Jan 12, 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 $23.37 on Jan 11, 2018. For more conservative investors, look at a covered call using the Jun 15, 2018 $23 call for a net debit of about $21.61. This trade will return 6.38% (15.12% annualized, for comparison purposes only) as long as the stock closes above $23 at expiration. Market Vectors Gold Miners can fall 7.52% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $17 call taking the place of the long stock position and the same short position in the Jun 15, 2018 $23 call. This trade only costs about $5.29 to get into and the rate of return increases to 13.42% (15.12% annualized, for comparison purposes only) but the downside protection falls to 4.66%.

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