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Western Digital (WDC) Showing Bearish Technicals With Resistance At $89.50

Nov 10, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on Western Digital (<a href="http://www.marketintelligencecenter.com/symbol/WDC">WDC</a>) could yield about 3.88% (40.48% annualized, for comparison purposes only) in 35 days. Pair a long position in the stock with the Dec 15, 2017 $87.50 call for a net debit of about $84.22. This position also has 3.87% 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 18, 2019 $57.50 call for a net debit of about $28.20. While this trade has a higher yield at 6.38%, the downside protection falls to 3.87%. Western Digital closed at $87.62 Nov 9, 2017. Technical indicators for WDC are bearish and support and resistance have been about $85.12 and $89.50, respectively.A

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