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Melco Resorts & Entertainment (MLCO) Showing Support Near $24.50

Dec 07, 2017 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Melco Resorts & Entertainment (<a href="http://www.marketintelligencecenter.com/symbol/MLCO">MLCO</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Apr 20, 2018 $25 covered call for a net debit in the $22.97 area. That is also the break-even stock price for the covered call. This trade will return 8.83%, or 24.07% annualized (for comparison purposes only), in 134 days. This covered call also provides 8.55% downside protection. A lower-cost play on Melco Resorts & Entertainment would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $11.68 call and the same sold call for a net debit of $11.69.This trade only has 6.92% downside protection, but the assigned return rate rises to 13.84% or an annualized rate of 37.71% (for comparison purposes only). The current 52-week low is $14.89 and the 52-week high is $27.47. Melco Resorts & Entertainment stock has been showing support around $24.50 and resistance in the $25.97 range. The stock closed Dec 6, 2017's trading session at $25.12.A

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