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S&P Oil & Gas Exploration & Prod SPDR (XOP) Showing Bearish Technicals With Resistance At $35.53

Apr 21, 2017 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center Aare highlighting two trades on S&P Oil & Gas Exploration & Prod SPDR (<a href="">XOP</a>) today after it closed at $34.99 on Apr 20, 2017. For more conservative investors, look at a covered call using the May 19, 2017 $34 call for a net debit of about $33.14. This trade will return 2.56% (33.42% annualized, for comparison purposes only) as long as the stock closes above $34 at expiration. S&P Oil & Gas Exploration & Prod SPDR can fall 5.25% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 19, 2018 $20 call taking the place of the long stock position and the same short position in the May 19, 2017 $34 call. This trade only costs about $13.66 to get into and the rate of return increases to 2.48% (33.42% annualized, for comparison purposes only) but the downside protection falls to 3.80%.

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