Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Gold SPDR (GLD) Trading Near $122.20 Resistance Level

Dec 01, 2017 (Marketintelligencecenter.com via COMTEX) --

After Nov 30, 2017aEUR(TM)s trading in Gold SPDR (<a href="http://www.marketintelligencecenter.com/symbol/GLD">GLD</a>) MarketIntelligenceCenter.com'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.

(C) Copyright 2017, Marketintelligencecenter.com. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 58.02
Nat Gas 2.804
Corn 349
Cotton #2 73.00
Gold 1243.6
Copper 3.0145
Euro 1.17730
USD Index 93.843
SP500 E-mini 2663.50
DJIA E-mini 24401
close_icon
open_icon