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British Pound Sterling Trust (FXB) Trading Near $130.36 Support Level

Dec 04, 2017 ( via COMTEX) --

British Pound Sterling Trust (<a href="">FXB</a>) is a good candidate for a covered call at the $130 level. The Jun 15, 2018 call at that price should fetch a credit of about $3.79, which means the entire position has a net debit of about $127.15. This trade has 1.56% downside protection. Another option would be to buy the FXB Jan 18, 2019 $114 call instead of holding a long position in the stock. This lowers the net debit to $14.90, but the position only has 1.56% downside protection. Technical indicators for the stock are bearish and British Pound Sterling Trust has a 52-week low of $117.48 and 52-week high of $132.65.

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