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Market Vectors Gold Miners (GDX) Showing Support Near $24.20

Sep 13, 2017 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Market Vectors Gold Miners (<a href="http://www.marketintelligencecenter.com/symbol/GDX">GDX</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Nov 17, 2017 $24.50 covered call for a net debit in the $23.47 area. That is also the break-even stock price for the covered call. This trade will return 4.38%, or 24.64% annualized (for comparison purposes only), in 65 days. This covered call also provides 4.86% 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 $13 call and the same sold call for a net debit of $10.90.This trade only has 3.12% downside protection, but the assigned return rate rises to 5.50% or an annualized rate of 30.91% (for comparison purposes only). The current 52-week low is $18.58 and the 52-week high is $28.56. Market Vectors Gold Miners stock has been showing support around $24.20 and resistance in the $24.98 range. The stock closed Sep 12, 2017's trading session at $24.67.A

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