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Junior Gold Miners ETF Vaneck (GDXJ) Showing Bearish Technicals With Support At $31.20

Dec 04, 2017 (Marketintelligencecenter.com via COMTEX) --

A covered call identified by MarketIntelligenceCenter.com's patented algorithms on Junior Gold Miners ETF Vaneck (<a href="http://www.marketintelligencecenter.com/symbol/GDXJ">GDXJ</a>) could yield about 3.60% (17.80% annualized, for comparison purposes only) in 74 days. Pair a long position in the stock with the Feb 16, 2018 $31 call for a net debit of about $29.92. This position also has 5.75% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 18, 2019 $15 call for a net debit of about $15.32. While this trade has a higher yield at 4.41%, the downside protection falls to 5.75%. Junior Gold Miners ETF Vaneck closed at $31.75 Dec 1, 2017. Technical indicators for GDXJ are bearish and support and resistance have been about $31.20 and $32.54, respectively.A

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