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First Trust NYSE Arca Biotech Index (FBT) Showing Bearish Technicals

Nov 30, 2017 ( via COMTEX) --

For a hedged play on First Trust NYSE Arca Biotech Index (<a href="">FBT</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jan 19, 2018 $123 covered call for a net debit in the $120.34 area. That is also the break-even stock price for the covered call. This trade will return 2.21%, or 16.13% annualized (for comparison purposes only), in 50 days. This covered call also provides 2.27% downside protection. The current 52-week low is $90.53 and the 52-week high is $127.62. First Trust NYSE Arca Biotech Index stock has been showing support around $121.65 and resistance in the $124.51 range. The stock closed Nov 29, 2017's trading session at $123.13.A

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