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Whiting Petroleum (WLL) Trading Near $44.32 Resistance Level

Oct 12, 2018 ( via COMTEX) --

For a hedged play on Whiting Petroleum (<a href="">WLL</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Dec 21, 2018 $39 covered call for a net debit in the $36.14 area. That is also the break-even stock price for the covered call. This trade will return 7.91%, or 41.26% annualized (for comparison purposes only), in 70 days. This covered call also provides 14.54% downside protection. A lower-cost play on Whiting Petroleum would use a longer term call option in place of the long position in the stock. Look at the Jan 17, 2020 $13 call and the same sold call for a net debit of $25.05.This trade only has 10.02% downside protection, but the assigned return rate rises to 3.79% or an annualized rate of 19.77% (for comparison purposes only). The current 52-week low is $18.56 and the 52-week high is $56.47. Whiting Petroleum stock has been showing support around $40.02 and resistance in the $44.32 range. The stock closed Oct 11, 2018's trading session at $42.29.A

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