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Randgold Resources (GOLD) Trading Near $89.23 Support Level

Nov 06, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented algorithms have identified an attractive covered-call trade on Randgold Resources (<a href="http://www.marketintelligencecenter.com/symbol/GOLD">GOLD</a>). Look at the Dec 15, 2017 $90 covered call for a net debit in the $87.65 area.<br /> <br /> This trade has a duration of 39 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.94% downside protection. If the stock closes at or above $90 at expiration this trade will return 2.66% or 24.98% annually (for comparison purposes only). <br /> <br /> If you're interested in a lower-cost hedged trade on Randgold Resources, consider buying the Jan 18, 2019 $40 call and selling the Dec 15, 2017 $90 call for a net debit of $48.67. A<br /> <br /> This hedged trade uses a longer-term bought call instead of the long stock position in a traditional covered call. The hedged trade lasts 39 days and would provide 2.79% downside protection. If Randgold Resources is at or above $90 when the market closes in Dec 15, 2017, this trade will make a full return of 2.66% of the initial capital at risk for an annualized return rate of 24.98% (for comparison purposes only).<br /> <br /> GOLD closed Nov 3, 2017's trading session at $91.26. In the past year, the stock has hit a 52-week low of $67.54 and 52-week high of $108.29. Randgold Resources stock has been showing support around $89.23 and resistance in the $93.06 range. Technical indicators for the stock are bearish and S&P gives GOLD 3 STARS (out of 5) hold ranking.

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