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Randgold Resources (GOLD) Trading Near $92.72 Resistance Level

Feb 07, 2018 ( via COMTEX) --

For a hedged play on Randgold Resources (<a href="">GOLD</a>) MarketIntelligenceCenter.comaEUR(TM)s algorithms selected the Mar 16, 2018 $87.50 covered call for a net debit in the $85.15 area. That is also the break-even stock price for the covered call. This trade will return 2.74%, or 27.10% annualized (for comparison purposes only), in 37 days. This covered call also provides 4.48% downside protection. A lower-cost play on Randgold Resources would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $67.50 call and the same sold call for a net debit of $19.35.This trade only has 2.59% downside protection, but the assigned return rate rises to A3.35% or an annualized rate of 33.13% (for comparison purposes only). The current 52-week low is $83.18 and the 52-week high is $108.29. Randgold Resources stock has been showing support around $87.14 and resistance in the $92.72 range. The stock closed Feb 6, 2018's trading session at $89.16. Technical indicators for the stock are bearish and S&P gives GOLD a 3 STARS (out of 5) hold ranking.

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