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Melco Resorts & Entertainment (MLCO) Trading Near $30.02 Support Level

Jun 13, 2018 (Marketintelligencecenter.com via COMTEX) --

The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center Aare highlighting two trades on Melco Resorts & Entertainment (<a href="http://www.marketintelligencecenter.com/symbol/MLCO">MLCO</a>) today after it closed at $30.51 on Jun 12, 2018. For more conservative investors, look at a covered call using the Oct 19, 2018 $30 call for a net debit of about $27.81. This trade will return 7.87% (22.45% annualized, for comparison purposes only) as long as the stock closes above $30 at expiration. Melco Resorts & Entertainment can fall 8.84% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $23.68 call taking the place of the long stock position and the same short position in the Oct 19, 2018 $30 call. This trade only costs about $5.25 to get into and the rate of return increases to 20.38% (22.45% annualized, for comparison purposes only) but the downside protection falls to 5.17%.

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