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Whiting Petroleum (WLL) Trading Near $51.05 Support Level

Jun 13, 2018 (Marketintelligencecenter.com via COMTEX) --

After Jun 12, 2018aEUR(TM)s trading in Whiting Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/WLL">WLL</a>) MarketIntelligenceCenter.com's option trade-picking algorithms uncovered a trade that offers a 4.31% or 42.60% (for comparison purposes only), while providing 9.27% downside protection. The trade is a Jul 20, 2018 covered call at the $50 level for a net debit of about $47.92. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $21 level. By buying the call for $32.45 instead of paying about $52.83 for the stock, the assigned return rate for this alternate trade is 5.26%, but the stock has to finish above $48.54 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $51.05 and $55.37, respectively.

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