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Micron Technology (MU) Trading Near $39.77 Support Level

Dec 07, 2017 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center are highlighting two trades on Micron Technology (<a href="">MU</a>) today after it closed at $41.58 on Dec 6, 2017. For more conservative investors, look at a covered call using the Jan 19, 2018 $39 call for a net debit of about $37.17. This trade will return 4.89% (41.55% annualized, for comparison purposes only) as long as the stock closes above $39 at expiration. Micron TechnologyAcan fall 10.58% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $3 call taking the place of the long stock position and the same short position in the Jan 19, 2018 $39 call. This trade only costs about $34.89 to get into and the rate of return increases to 3.15% (41.55% annualized, for comparison purposes only) but the downside protection falls to 8.85%.

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