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Occidental Petroleum (OXY) Trading Near $68.37 Support Level

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

After Dec 6, 2017aEUR(TM)s trading in Occidental Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/OXY">OXY</a>) MarketIntelligenceCenter.com's patented algorithms uncovered a trade that offers a 3.25% return or 7.34% on an annualized basis (for comparison purposes only), while providing 5.63% downside protection. The trade is a May 18, 2018 covered call at the $67.50 level for a net debit of about $65.36. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $55 level. By buying the call for $14.69 instead of paying about $69.26 for the stock, the assigned return rate for this alternate trade is 15.74%, but the stock has to finish above $65.79 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 3 STARS (out of 5) hold ranking on Occidental Petroleum. Technical indicators for the stock have been bearish and support and resistance have been in the area of $68.37 and $70.49, respectively.

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