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Potential Progress Software (PRGS) Trade Has 8.34% Downside Protection

Nov 10, 2017 ( via COMTEX) --

For a hedged play on Progress Software (<a href="">PRGS</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Mar 16, 2018 $40 covered call for a net debit in the $38.43 area. That is also the break-even stock price for the covered call. This trade will return 4.05%, or 11.75% annualized (for comparison purposes only), in 126 days. This covered call also provides 8.34% downside protection. The current 52-week low is $27.16 and the 52-week high is $42.97. Progress Software stock has been showing support around $41.27 and resistance in the $42.33 range. The stock closed Nov 9, 2017's trading session at $41.93.A

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