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Direxion Natural Gas Bear 3X (GASX) Trading Near $28.15 Resistance Level

Dec 06, 2017 ( via COMTEX) --

For a hedged play on Direxion Natural Gas Bear 3X (<a href="">GASX</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the May 18, 2018 $24 covered call for a net debit in the $21.42 area. That is also the break-even stock price for the covered call. This trade will return 12.04%, or 26.97% annualized (for comparison purposes only), in 163 days. This covered call also provides 22.16% downside protection. The current 52-week low is $17.73 and the 52-week high is $47.19. Direxion Natural Gas Bear 3X stock has been showing support around $26.29 and resistance in the $28.15 range. The stock closed Dec 5, 2017's trading session at $27.52.A

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