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Potential China Petroleum and Chemcial (SNP) Trade Has 6.95% Downside Protection

Feb 06, 2018 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligececenter.com's patented algorithm on China Petroleum and Chemcial (<a href="http://www.marketintelligencecenter.com/symbol/SNP">SNP</a>) could yield about 3.15% (15.79% annualized, for comparison purposes only) in 73 days. Pair a long position in the stock with the Apr 20, 2018 $80 call for a net debit of about $77.54. This position also has 6.95% downside protection. China Petroleum and Chemcial closed at $83.34 Feb 5, 2018. Technical indicators for SNP are bearish and support and resistance have been about $81.05 and $87.25, respectively.A

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