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Market Vectors Gold Miners (GDX) Showing Support Near $21.41

Feb 09, 2018 ( via COMTEX) --

For a hedged play on Market Vectors Gold Miners (<a href="">GDX</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Jun 15, 2018 $21 covered call for a net debit in the $19.78 area. That is also the break-even stock price for the covered call. This trade will return 6.11%, or 17.71% annualized (for comparison purposes only), in 126 days. This covered call also provides 8.71% downside protection. A lower-cost play on Market Vectors Gold Miners would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $15 call and the same sold call for a net debit of $5.46.This trade only has 5.62% downside protection, but the assigned return rate rises to 9.89% or an annualized rate of 28.64% (for comparison purposes only). The current 52-week low is $20.89 and the 52-week high is $25.62. Market Vectors Gold Miners stock has been showing support around $21.41 and resistance in the $22.15 range. The stock closed Feb 8, 2018's trading session at $21.68.A

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