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Whiting Petroleum (WLL) Trading Near $32.91 Resistance Level

Dec 06, 2018 (Marketintelligencecenter.com via COMTEX) --

The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center Aare highlighting two trades on Whiting Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/WLL">WLL</a>) today after it closed at $30.80 on Dec 5, 2018. For more conservative investors, look at a covered call using the Jun 21, 2019 $27 call for a net debit of about $23.42. This trade will return 15.27% (28.32% annualized, for comparison purposes only) as long as the stock closes above $27 at expiration. Whiting Petroleum can fall 24.01% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 17, 2020 $15 call taking the place of the long stock position and the same short position in the Jun 21, 2019 $27 call. This trade only costs about $10.25 to get into and the rate of return increases to 17.07% (28.32% annualized, for comparison purposes only) but the downside protection falls to 18.07%.

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