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Randgold Resources (GOLD) Showing Bearish Technicals With Support At $83.33

Feb 13, 2018 ( via COMTEX) --

After Feb 12, 2018aEUR(TM)s trading in Randgold Resources (<a href="">GOLD</a>)'s option trade-picking algorithms uncovered a trade that offers a 3.38% or 39.81% (for comparison purposes only), while providing 3.97% downside protection. The trade is a Mar 16, 2018 covered call at the $85 level for a net debit of about $82.21. 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 18, 2019 at the $55 level. By buying the call for $32 instead of paying about $85.62 for the stock, the assigned return rate for this alternate trade is 4.89%, but the stock has to finish above $83.59 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 $83.33 and $87.37, respectively.

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