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Melco Resorts & Entertainment (MLCO) Trading Near $25.61 Resistance Level

Nov 10, 2017 ( via COMTEX) --

For a hedged play on Melco Resorts & Entertainment (<a href="">MLCO</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Apr 20, 2018 $25 covered call for a net debit in the $22.87 area. That is also the break-even stock price for the covered call. This trade will return 9.26%, or 21% annualized (for comparison purposes only), in 161 days. This covered call also provides 9.31% downside protection. A lower-cost play on Melco Resorts & Entertainment would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $15.68 call and the same sold call for a net debit of $7.90.This trade only has 6.53% downside protection, but the assigned return rate rises to 17.97% or an annualized rate of 40.75% (for comparison purposes only). The current 52-week low is $14.89 and the 52-week high is $26.54. Melco Resorts & Entertainment stock has been showing support around $24.73 and resistance in the $25.61 range. The stock closed Nov 9, 2017's trading session at $25.22.A

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