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Potential Apex Silver Mines (SIL) Trade Has 7.75% Downside Protection

Oct 10, 2018 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Apex Silver Mines (<a href="http://www.marketintelligencecenter.com/symbol/SIL">SIL</a>). Look at the Apr 18, 2019 $23 covered call for a net debit in the $22.01 area.<br /> <br /> This trade has a duration of 190 days. The break-even point of this trade is the same as the net debit, which gives this trade 7.75% downside protection. If the stock closes at or above $23 at expiration this trade will return 4.45% or 8.54% (for comparison purposes only). <br /> <br /> SIL closed Oct 9, 2018's trading session at $23.87. In the past year, the stock has hit a 52-week low of $22.70 and 52-week high of $34.71. Apex Silver Mines stock has been showing support around $23.50 and resistance in the $24.10 range. Recent technical indicators for the stock are bearish.

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