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Potential Sanderson Farms (SAFM) Trade Has 5.67% Downside Protection

Feb 09, 2018 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Sanderson Farms (<a href="http://www.marketintelligencecenter.com/symbol/SAFM">SAFM</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms recommend the Mar 16, 2018 $120 covered call for a net debit in the $114.68 area. That is also the break-even stock price for the covered call. This trade will return 4.62%, or 48.28% annualized (for comparison purposes only), in 35 days. This covered call also provides 5.67% downside protection. The current 52-week low is $88.70 and the 52-week high is $176.43. Sanderson Farms stock has been showing support around $116.69 and resistance in the $129.75 range. The stock closed Feb 8, 2018's trading session at $121.58. Technical indicators for the stock are bearish and S&P gives SAFM a 3 STARS (out of 5) hold ranking.

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