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Callon Petroleum (CPE) Showing Support Near $10.93

Dec 04, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's option-trade picking algorithms have identified an attractive covered-call trade on Callon Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/CPE">CPE</a>). Look at the Jul 20, 2018 $10 covered call for a net debit in the $9 area.<br /> <br /> This trade has a duration of 228 days. The break-even point of this trade is the same as the net debit, which gives this trade 21.73%. If the stock closes at or above $10 at expiration this trade will return 11.09% or 17.78% (for comparison purposes only). <br /> <br /> CPE closed Dec 1, 2017's trading session at $11.50. In the past year, the stock has hit a 52-week low of $9.34 and 52-week high of $18. Callon Petroleum stock has been showing support around $10.93 and resistance in the $12.03 range. Technical indicators for the stock are bearish and S&P gives CPE 4 STARS (out of 5) buy ranking.

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