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Synopsys (SNPS) Trading Near $80.12 Support Level

Feb 09, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Synopsys (<a href="http://www.marketintelligencecenter.com/symbol/SNPS">SNPS</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Mar 16, 2018 $80 covered call for a net debit in the $78.02 area. That is also the break-even stock price for the covered call. This trade will return 2.53%, or 26.46% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.56% downside protection. The current 52-week low is $64.86 and the 52-week high is $94.80. Synopsys stock has been showing support around $80.12 and resistance in the $87.50 range. The stock closed Feb 8, 2018's trading session at $82.62.A

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