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Potential Wright Medical Group (WMGI) Trade Could Hit 6.73% Return

Nov 10, 2017 ( via COMTEX) --

For a hedged play on Wright Medical Group (<a href="">WMGI</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the May 18, 2018 $22.50 covered call for a net debit in the $21.07 area. That is also the break-even stock price for the covered call. This trade will return 6.73%, or 13% annualized (for comparison purposes only), in 189 days. This covered call also provides 12.45% downside protection. The current 52-week low is $22.06 and the 52-week high is $31.53. Wright Medical Group stock has been showing support around $23.71 and resistance in the $24.35 range. The stock closed Nov 9, 2017's trading session at $24.07. Technical indicators for the stock are bearish and S&P gives WMGI a 3 STARS (out of 5) hold ranking.

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