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Market Vectors Gold Miners (GDX) Trading Near $22.99 Resistance Level

Nov 08, 2017 ( via COMTEX) --

Market Vectors Gold Miners (<a href="">GDX</a>) closed Nov 7, 2017 at $22.72 and technical indicators recently have been bearish. With those figures in place, the algorithms behind's Artificial Intelligence Center have identified a couple of attractive trading opportunities in Market Vectors Gold Miners for today. For investors looking for a high return, a diagonal spread pairing a long position in the Jan 18, 2019 $13 call and a short position in the Mar 16, 2018 $22.50 call for a net debit of about $8.68. This trade has an assigned return of 9.32% and 4.57% downside protection. For more a more conservative play, look at a covered call using the Mar 16, 2018 $22.50 call for a $8.68 net debit. This trade has an assigned return of 5.53% but the downside protection increases to 6.20%. Over the last 52 weeks the stock has traded between $18.58 and $25.71.A

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