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Potential SP Plus Corp (SP) Trade Has 3.95% Downside Protection

Feb 09, 2018 ( via COMTEX) --

For a hedged play on SP Plus Corp (<a href="">SP</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 20, 2018 $35 covered call for a net debit in the $34 area. That is also the break-even stock price for the covered call. This trade will return 2.94%, or 15.33% annualized (for comparison purposes only), in 70 days. This covered call also provides 3.95% downside protection. The current 52-week low is $27.15 and the 52-week high is $41.70. SP Plus Corp stock has been showing support around $34.43 and resistance in the $37.33 range. The stock closed Feb 8, 2018's trading session at $35.40.A

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