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Potential Canadian Natural Resources (CNQ) Trade Has 4.51% Downside Protection

Nov 09, 2017 ( via COMTEX) --

Canadian Natural Resources (<a href="">CNQ</a>) is a good candidate for a covered call at the $36 level. The Jan 19, 2018 call at that price should fetch a credit of about $1.64, which means the entire position has a net debit of about $34.89. This trade has 3.28% downside protection. Technical indicators for the stock are bearish and Canadian Natural Resources has a 52-week low of $27.52 and 52-week high of $36.79.

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