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Callon Petroleum (CPE) Trading Near $11.74 Resistance Level

Dec 06, 2017 ( via COMTEX) --

After Dec 5, 2017aEUR(TM)s trading in Callon Petroleum (<a href="">CPE</a>) the option-trade picking algorithms that power's Artificial Intelligence Center uncovered a trade that offers a 12.10% return, or 19.55% annualized (for comparison purposes only), while providing 21.54% downside protection. The trade is a Jul 20, 2018 covered call at the $10 level for a net debit of about $8.91. The net debit is also the breakeven point for this trade. Standard & PooraEUR(TM)s has a 4 STARS (out of 5) buy ranking on Callon Petroleum. Technical indicators for the stock have been bearish and support and resistance have been in the area of $10.97 and $11.74, respectively.

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