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Gold SPDR (GLD) Trading Near $122.20 Resistance Level

Dec 01, 2017 ( via COMTEX) --

After Nov 30, 2017aEUR(TM)s trading in Gold SPDR (<a href="">GLD</a>)'s option trade-picking algorithms uncovered a trade that offers a 2.43% or 8.47% (for comparison purposes only), while providing 2.46% downside protection. The trade is a Mar 16, 2018 covered call at the $121 level for a net debit of about $118.11. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $80 level. By buying the call for $43.04 instead of paying about $121.09 for the stock, the assigned return rate for this alternate trade is 2.32%, but the stock has to finish above $120.06 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $120.09 and $122.20, respectively.

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