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Wix.Com Ltd (WIX) Trading Near $77.08 Support Level

Mar 08, 2018 ( via COMTEX) --

After Mar 7, 2018aEUR(TM)s trading in Wix.Com Ltd (<a href="">WIX</a>)'s option trade-picking algorithms uncovered a trade that offers a 4.78% or 40.57% (for comparison purposes only), while providing 6.60% downside protection. The trade is a Apr 20, 2018 covered call at the $80 level for a net debit of about $76.34. 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 $30 level. By buying the call for $53.20 instead of paying about $81.75 for the stock, the assigned return rate for this alternate trade is 4.60%, but the stock has to finish above $77.80 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 $77.08 and $84.28, respectively.

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