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Market Vectors Gold Miners (GDX) Showing Bearish Technicals With Resistance At $22.68

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

The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center Aare highlighting two trades on Market Vectors Gold Miners (<a href="http://www.marketintelligencecenter.com/symbol/GDX">GDX</a>) today after it closed at $22.46 on Nov 30, 2017. For more conservative investors, look at a covered call using the Jun 15, 2018 $22 call for a net debit of about $20.62. This trade will return 6.64% (12.36% annualized, for comparison purposes only) as long as the stock closes above $22 at expiration. Market Vectors Gold Miners can fall 8.18% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $15 call taking the place of the long stock position and the same short position in the Jun 15, 2018 $22 call. This trade only costs about $6.06 to get into and the rate of return increases to 15.51% (12.36% annualized, for comparison purposes only) but the downside protection falls to 6.27%.

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