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Potential Apex Silver Mines (SIL) Trade Has 6.55% Downside Protection

Dec 07, 2017 ( via COMTEX) --

For a hedged play on Apex Silver Mines (<a href="">SIL</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 20, 2018 $29 covered call for a net debit in the $27.81 area. That is also the break-even stock price for the covered call. This trade will return 4.27%, or 11.65% annualized (for comparison purposes only), in 134 days. This covered call also provides 6.55% downside protection. The current 52-week low is $29.74 and the 52-week high is $41.68. Apex Silver Mines stock has been showing support around $29.49 and resistance in the $30.25 range. The stock closed Dec 6, 2017's trading session at $29.76.A

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