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Potential Junior Gold Miners ETF Market Vectors (GDXJ) Trade Has 8.93% Downside Protection

Mar 20, 2017 ( via COMTEX) --

For a hedged play on Junior Gold Miners ETF Market Vectors (<a href="">GDXJ</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 21, 2017 $34 covered call for a net debit in the $33.03 area. That is also the break-even stock price for the covered call. This trade will return 2.93%, or 33.49% annualized (for comparison purposes only), in 32 days. This covered call also provides 8.93% downside protection. The current 52-week low is $26.33 and the 52-week high is $52.50. Junior Gold Miners ETF Market Vectors stock has been showing support around $34.52 and resistance in the $38.60 range. The stock closed Mar 17, 2017's trading session at $36.27.A

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