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Market Vectors Gold Miners (GDX) Trading Near $21.16 Support Level

Mar 08, 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 $20.01 area. That is also the break-even stock price for the covered call. This trade will return 4.94%, or 18.24% annualized (for comparison purposes only), in 99 days. This covered call also provides 7.23% 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 $14 call and the same sold call for a net debit of $6.58.This trade only has 4.54% downside protection, but the assigned return rate rises to 6.22% or an annualized rate of 22.93% (for comparison purposes only). The current 52-week low is $20.83 and the 52-week high is $25.58. Market Vectors Gold Miners stock has been showing support around $21.16 and resistance in the $22.27 range. The stock closed Mar 7, 2018's trading session at $21.56.A

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