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Potential Paychex (PAYX) Trade Could Hit 2.11% Return

Feb 09, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Paychex (<a href="http://www.marketintelligencecenter.com/symbol/PAYX">PAYX</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Mar 16, 2018 $60 covered call for a net debit in the $58.75 area. That is also the break-even stock price for the covered call. This trade will return 2.11%, or 22% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.01% downside protection. The current 52-week low is $54.20 and the 52-week high is $73.10. Paychex stock has been showing support around $59.95 and resistance in the $65.55 range. The stock closed Feb 8, 2018's trading session at $61.86. Technical indicators for the stock are bearish and S&P gives PAYX a 3 STARS (out of 5) hold ranking.

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