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Potential Callon Petroleum (CPE) Trade Has 15.75% Downside Protection

Feb 08, 2018 ( via COMTEX) --'s option-trade picking algorithms have identified an attractive covered-call trade on Callon Petroleum (<a href="">CPE</a>). Look at the Jul 20, 2018 $10 covered call for a net debit in the $9.08 area.<br /> <br /> This trade has a duration of 162 days. The break-even point of this trade is the same as the net debit, which gives this trade 15.75%. If the stock closes at or above $10 at expiration this trade will return 10.01% or 22.55% (for comparison purposes only). <br /> <br /> CPE closed Feb 7, 2018's trading session at $10.78. In the past year, the stock has hit a 52-week low of $9.34 and 52-week high of $15.02. Callon Petroleum stock has been showing support around $10.16 and resistance in the $11.96 range. Technical indicators for the stock are bearish and S&P gives CPE 4 STARS (out of 5) buy ranking.

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