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Callon Petroleum (CPE) Showing Bearish Technicals With Support At $11.06

Dec 05, 2017 (Marketintelligencecenter.com via COMTEX) --

After Dec 4, 2017aEUR(TM)s trading in Callon Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/CPE">CPE</a>) the algorithms behind MarketIntelligenceCenter.com's Artifical Intelligence Center picked out a trade that offers a 11.85% or 19.06% (for comparison purposes only), while providing 21.16% downside protection. The trade is a Jul 20, 2018 covered call at the $10 level for a net debit of about $8.93. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $11.06 and $11.73, respectively.

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