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S&P Global Natural Resources SPDR (GNR) Showing Bearish Technicals

Nov 08, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on S&P Global Natural Resources SPDR (<a href="http://www.marketintelligencecenter.com/symbol/GNR">GNR</a>). Look at the Jun 15, 2018 $47 covered call for a net debit in the $46 area.<br /> <br /> This trade has a duration of 219 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.36% downside protection. If the stock closes at or above $47 at expiration this trade will return 2.15% or 3.58% (for comparison purposes only). <br /> <br /> GNR closed Nov 7, 2017's trading session at $47.61. In the past year, the stock has hit a 52-week low of $39.16 and 52-week high of $47.84. S&P Global Natural Resources SPDR stock has been showing support around $47.15 and resistance in the $48.07 range. Recent technical indicators for the stock are bearish.

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