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Potential Occidental Petroleum (OXY) Trade Has 5.53% Downside Protection

Jun 13, 2018 ( via COMTEX) --

After Jun 12, 2018aEUR(TM)s trading in Occidental Petroleum (<a href="">OXY</a>)'s patented algorithms uncovered a trade that offers a 2.82% return or 15.88% on an annualized basis (for comparison purposes only), while providing 5.53% downside protection. The trade is a Aug 17, 2018 covered call at the $82.50 level for a net debit of about $80.23. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $67.50 level. By buying the call for $18.55 instead of paying about $84.93 for the stock, the assigned return rate for this alternate trade is 8.30%, but the stock has to finish above $81.34 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 3 STARS (out of 5) hold ranking on Occidental Petroleum. Technical indicators for the stock have been bearish and support and resistance have been in the area of $83.62 and $86.79, respectively.

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