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Potential First Trust NYSE Arca Biotech Index (FBT) Trade Has 3.62% Downside Protection

Nov 10, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligececenter.com's patented algorithm on First Trust NYSE Arca Biotech Index (<a href="http://www.marketintelligencecenter.com/symbol/FBT">FBT</a>) could yield about 3.50% (13.06% annualized, for comparison purposes only) in 98 days. Pair a long position in the stock with the Feb 16, 2018 $121 call for a net debit of about $116.89. This position also has 3.62% downside protection. First Trust NYSE Arca Biotech Index closed at $121.30 Nov 9, 2017. Technical indicators for FBT are bearish and support and resistance have been about $119.57 and $122.47, respectively.A

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