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Market Vectors Steel Index Fund (SLX) Showing Support Near $46.14

Feb 08, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Market Vectors Steel Index Fund (<a href="http://www.marketintelligencecenter.com/symbol/SLX">SLX</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Sep 21, 2018 $46 covered call for a net debit in the $42.88 area. That is also the break-even stock price for the covered call. This trade will return 7.27%, or 11.80% annualized (for comparison purposes only), in 225 days. This covered call also provides 8.53% downside protection. The current 52-week low is $35.03 and the 52-week high is $51.40. Market Vectors Steel Index Fund stock has been showing support around $46.14 and resistance in the $48.26 range. The stock closed Feb 7, 2018's trading session at $46.88.A

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