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Potential Silicon Motion Technology (SIMO) Trade Has 6.68% Downside Protection

Mar 08, 2018 ( via COMTEX) --

For a hedged play on Silicon Motion Technology (<a href="">SIMO</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Apr 20, 2018 $45 covered call for a net debit in the $43.25 area. That is also the break-even stock price for the covered call. This trade will return 4.02%, or 34.14% annualized (for comparison purposes only), in 43 days. This covered call also provides 6.68% downside protection. The current 52-week low is $40.33 and the 52-week high is $56.51. Silicon Motion Technology stock has been showing support around $44.83 and resistance in the $47.19 range. The stock closed Mar 7, 2018's trading session at $46.36.A

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