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Steel Dynamics (STLD) Showing Support Near $36.41

Nov 10, 2017 ( via COMTEX) --

After Nov 9, 2017aEUR(TM)s trading in Steel Dynamics (<a href="">STLD</a>)'s patented algorithms uncovered a trade that offers a 2.59% return or 27.04% on an annualized basis (for comparison purposes only), while providing 5.64% downside protection. The trade is a Dec 15, 2017 covered call at the $36 level for a net debit of about $35.08. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $18 level. By buying the call for $19.25 instead of paying about $37.18 for the stock, the assigned return rate for this alternate trade is 4.95%, but the stock has to finish above $35.14 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 5 STARS (out of 5) strong buy ranking on Steel Dynamics. Technical indicators for the stock have been bearish and support and resistance have been in the area of $36.41 and $37.91, respectively.

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