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Potential First Trust NYSE Arca Biotech Index (FBT) Trade Has 2.52% Downside Protection

Nov 07, 2017 ( via COMTEX) --

After Nov 6, 2017aEUR(TM)s trading in First Trust NYSE Arca Biotech Index (<a href="">FBT</a>) the algorithms behind's Artifical Intelligence Center picked out a trade that offers a 2.15% or 20.66% (for comparison purposes only), while providing 2.52% downside protection. The trade is a Dec 15, 2017 covered call at the $122 level for a net debit of about $119.43. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $121.50 and $124.48, respectively.

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