Mar 16, 2017 (Marketintelligencecenter.com via COMTEX) --
After Mar 15, 2017aEUR(TM)s trading in Southern Copper (<a href="http://www.marketintelligencecenter.com/symbol/SCCO">SCCO</a>) MarketIntelligenceCenter.com's option trade-picking algorithms uncovered a trade that offers a 3.29% or 33.45% (for comparison purposes only), while providing 3.32% downside protection. The trade is a Apr 21, 2017 covered call at the $36 level for a net debit of about $34.84. 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 19, 2018 at the $13 level. By buying the call for $23.19 instead of paying about $36.04 for the stock, the assigned return rate for this alternate trade is 4.54%, but the stock has to finish above $35 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $34.79 and $36.79, respectively.
(C) Copyright 2017, Marketintelligencecenter.com. All rights reserved.