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Potential Mirati Therapeutics (MRTX) Trade Has 33.95% Downside Protection

Feb 09, 2018 ( via COMTEX) --

For a hedged play on Mirati Therapeutics (<a href="">MRTX</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Sep 21, 2018 $20 covered call for a net debit in the $17.70 area. That is also the break-even stock price for the covered call. This trade will return 12.99%, or 21.17% annualized (for comparison purposes only), in 224 days. This covered call also provides 33.95% downside protection. The current 52-week low is $2.70 and the 52-week high is $30.50. Mirati Therapeutics stock has been showing support around $24.27 and resistance in the $31.77 range. The stock closed Feb 8, 2018's trading session at $26.79.A

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