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S&P 500 ETF SPDR (SPY) Showing Support Near $254.19

Jan 11, 2019 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center Aare highlighting two trades on S&P 500 ETF SPDR (<a href="">SPY</a>) today after it closed at $258.88 on Jan 10, 2019. For more conservative investors, look at a covered call using the Feb 15, 2019 $258 call for a net debit of about $252.53. This trade will return 2.16% (22.54% annualized, for comparison purposes only) as long as the stock closes above $258 at expiration. S&P 500 ETF SPDR can fall 2.44% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 17, 2020 $155 call taking the place of the long stock position and the same short position in the Feb 15, 2019 $258 call. This trade only costs about $98.62 to get into and the rate of return increases to 4.43% (22.54% annualized, for comparison purposes only) but the downside protection falls to 2.02%.

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