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Potential Silicon Motion Technology (SIMO) Trade Targets 6.63% Return

Feb 09, 2018 ( via COMTEX) --

For a hedged play on Silicon Motion Technology (<a href="">SIMO</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jun 15, 2018 $40 covered call for a net debit in the $37.50 area. That is also the break-even stock price for the covered call. This trade will return 6.63%, or 19.22% annualized (for comparison purposes only), in 126 days. This covered call also provides 13.59% downside protection. The current 52-week low is $39.40 and the 52-week high is $56.51. Silicon Motion Technology stock has been showing support around $41.45 and resistance in the $47.33 range. The stock closed Feb 8, 2018's trading session at $43.40.A

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