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

Oct 12, 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 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

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