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Potential Steel Dynamics (STLD) Trade Has 7.24% Downside Protection

Feb 09, 2018 ( via COMTEX) --'s option-trade picking algorithms have identified an attractive covered-call trade on Steel Dynamics (<a href="">STLD</a>). Look at the Mar 16, 2018 $41 covered call for a net debit in the $39.67 area.<br /> <br /> This trade has a duration of 35 days. The break-even point of this trade is the same as the net debit, which gives this trade 7.24%. If the stock closes at or above $41 at expiration this trade will return 3.32% or 34.69% (for comparison purposes only). <br /> <br /> STLD closed Feb 8, 2018's trading session at $42.77. In the past year, the stock has hit a 52-week low of $32.15 and 52-week high of $48.28. Steel Dynamics stock has been showing support around $41.71 and resistance in the $44.85 range. Technical indicators for the stock are bearish and S&P gives STLD 5 STARS (out of 5) strong buy ranking.

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