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China Petroleum and Chemcial (SNP) Trading Near $69.25 Support Level

Dec 07, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligececenter.com's patented algorithm on China Petroleum and Chemcial (<a href="http://www.marketintelligencecenter.com/symbol/SNP">SNP</a>) could yield about 3.96% (6.43% annualized, for comparison purposes only) in 225 days. Pair a long position in the stock with the Jul 20, 2018 $65 call for a net debit of about $62.51. This position also has 10.45% downside protection. China Petroleum and Chemcial closed at $69.81 Dec 6, 2017. Technical indicators for SNP are bearish and support and resistance have been about $69.25 and $70.51, respectively.A

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