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Vertex Pharmaceuticals (VRTX) Showing Support Near $166.76

Mar 08, 2018 ( via COMTEX) --

For a hedged play on Vertex Pharmaceuticals (<a href="">VRTX</a>) MarketIntelligenceCenter.comaEUR(TM)s algorithms selected the Apr 20, 2018 $170 covered call for a net debit in the $163.36 area. That is also the break-even stock price for the covered call. This trade will return 4.05%, or 34.44% annualized (for comparison purposes only), in 43 days. This covered call also provides 3.99% downside protection. A lower-cost play on Vertex Pharmaceuticals would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $60 call and the same sold call for a net debit of $106.20.This trade only has 2.33% downside protection, but the assigned return rate rises to A3.57% or an annualized rate of 30.37% (for comparison purposes only). The current 52-week low is $88.90 and the 52-week high is $174.96. Vertex Pharmaceuticals stock has been showing support around $166.76 and resistance in the $172.48 range. The stock closed Mar 7, 2018's trading session at $170.16. Technical indicators for the stock are bearish and S&P gives VRTX a 4 STARS (out of 5) buy ranking.

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