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Potential China Petroleum and Chemcial (SNP) Trade Could Hit 2.19% Return

Jan 03, 2018 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on China Petroleum and Chemcial (<a href="">SNP</a>). Look at the Feb 16, 2018 $75 covered call for a net debit in the $73.39 area.<br /> <br /> This trade has a duration of 44 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.61% downside protection. If the stock closes at or above $75 at expiration this trade will return 2.19% or 18.19% (for comparison purposes only). <br /> <br /> SNP closed Jan 2, 2018's trading session at $76.13. In the past year, the stock has hit a 52-week low of $69.60 and 52-week high of $84.88. China Petroleum and Chemcial stock has been showing support around $74.81 and resistance in the $76.81 range. Recent technical indicators for the stock are bearish.

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