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Mcgrath Rentcorp (MGRC) Trading Near $47.52 Resistance Level

Dec 07, 2017 ( via COMTEX) --

For a hedged play on Mcgrath Rentcorp (<a href="">MGRC</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Jun 15, 2018 $45 covered call for a net debit in the $43.07 area. That is also the break-even stock price for the covered call. This trade will return 4.48%, or 8.60% annualized (for comparison purposes only), in 190 days. This covered call also provides 8.49% downside protection. The current 52-week low is $32.09 and the 52-week high is $49.66. Mcgrath Rentcorp stock has been showing support around $46.42 and resistance in the $47.52 range. The stock closed Dec 6, 2017's trading session at $47.06.A

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