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Whiting Petroleum (WLL) Trading Near $23.87 Support Level

Feb 07, 2018 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center Aare highlighting two trades on Whiting Petroleum (<a href="">WLL</a>) today after it closed at $26.06 on Feb 6, 2018. For more conservative investors, look at a covered call using the Sep 21, 2018 $22 call for a net debit of about $18.96. This trade will return 15.97% (25.79% annualized, for comparison purposes only) as long as the stock closes above $22 at expiration. Whiting Petroleum can fall 27.23% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $13 call taking the place of the long stock position and the same short position in the Sep 21, 2018 $22 call. This trade only costs about $7.70 to get into and the rate of return increases to 16.88% (25.79% annualized, for comparison purposes only) but the downside protection falls to 20.59%.

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