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Encore Wire (WIRE) Showing Support Near $48.37

Jan 03, 2018 ( via COMTEX) --

For a hedged play on Encore Wire (<a href="">WIRE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the May 18, 2018 $45 covered call for a net debit in the $43 area. That is also the break-even stock price for the covered call. This trade will return 4.65%, or 12.57% annualized (for comparison purposes only), in 135 days. This covered call also provides 12.95% downside protection. The current 52-week low is $37.30 and the 52-week high is $49.75. Encore Wire stock has been showing support around $48.37 and resistance in the $50.27 range. The stock closed Jan 2, 2018's trading session at $49.40.A

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