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Mcgrath Rentcorp (MGRC) Trading Near $48.33 Resistance Level

Feb 09, 2018 ( via COMTEX) --

For a hedged play on Mcgrath Rentcorp (<a href="">MGRC</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Mar 16, 2018 $45 covered call for a net debit in the $43.97 area. That is also the break-even stock price for the covered call. This trade will return 2.31%, or 24.18% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.58% downside protection. The current 52-week low is $32.09 and the 52-week high is $50.69. Mcgrath Rentcorp stock has been showing support around $45.59 and resistance in the $48.33 range. The stock closed Feb 8, 2018's trading session at $46.58.A

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