Return to News Categories

Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Potential China Petroleum and Chemcial (SNP) Trade Has 7.56% Downside Protection

Oct 12, 2018 ( via COMTEX) --

A covered call identified by's patented algorithm on China Petroleum and Chemcial (<a href="">SNP</a>) could yield about 2.35% (24.55% annualized, for comparison purposes only) in 35 days. Pair a long position in the stock with the Nov 16, 2018 $80 call for a net debit of about $78.15. This position also has 7.56% downside protection. China Petroleum and Chemcial closed at $84.55 Oct 11, 2018. Technical indicators for SNP are bearish and support and resistance have been about $82.70 and $87.32, respectively.A

(C) Copyright 2018, All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 69.72
Nat Gas 3.197
Corn 366
Cotton #2 78.46
Gold 1229.3
Copper 2.8230
Euro 1.15905
USD Index 95.255
SP500 E-mini 2776.00
DJIA E-mini 25503