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Potential Occidental Petroleum (OXY) Trade Has 4.67% Downside Protection

Mar 20, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on Occidental Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/OXY">OXY</a>) could yield about 2.29% (14.02% annualized, for comparison purposes only) in 60 days. Pair a long position in the stock with the May 19, 2017 $62.50 call for a net debit of about $61.09. This position also has 4.67% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 19, 2018 $42.50 call for a net debit of about $19.03. While this trade has a higher yield at 4.98%, the downside protection falls to 4.67%. Occidental Petroleum closed at $64.07 Mar 17, 2017. Technical indicators for OXY are bearish and support and resistance have been about $63.56 and $64.60, respectively.A

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