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S&P Oil & Gas Exploration & Prod SPDR (XOP) Trading Near $31 Support Level

Jun 19, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on S&P Oil & Gas Exploration & Prod SPDR (<a href="http://www.marketintelligencecenter.com/symbol/XOP">XOP</a>) could yield about 4.29% (26.19% annualized, for comparison purposes only) in 60 days. Pair a long position in the stock with the Aug 18, 2017 $31 call for a net debit of about $29.71. This position also has 6.08% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 19, 2018 $21 call for a net debit of about $9.07. While this trade has a higher yield at 10.25%, the downside protection falls to 6.08%. S&P Oil & Gas Exploration & Prod SPDR closed at $31.64 Jun 16, 2017. Technical indicators for XOP are bearish and support and resistance have been about $31 and $32, respectively.A

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