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Melco Resorts & Entertainment (MLCO) Trading Near $31.67 Resistance Level

May 17, 2018 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center Aare highlighting two trades on Melco Resorts & Entertainment (<a href="">MLCO</a>) today after it closed at $31.11 on May 16, 2018. For more conservative investors, look at a covered call using the Jul 20, 2018 $31 call for a net debit of about $29.46. This trade will return 5.22% (29.81% annualized, for comparison purposes only) as long as the stock closes above $31 at expiration. Melco Resorts & Entertainment can fall 5.30% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $15.68 call taking the place of the long stock position and the same short position in the Jul 20, 2018 $31 call. This trade only costs about $14.09 to get into and the rate of return increases to 8.65% (29.81% annualized, for comparison purposes only) but the downside protection falls to 4.27%.

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