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Potential Canadian Natural Resources (CNQ) Trade Has 6.59% Downside Protection

Dec 05, 2017 ( via COMTEX) --

After Dec 4, 2017aEUR(TM)s trading in Canadian Natural Resources (<a href="">CNQ</a>)'s patented algorithms uncovered a trade that offers a 4.45% return or 16.09% on an annualized basis (for comparison purposes only), while providing 6.59% downside protection. The trade is a Mar 16, 2018 covered call at the $34 level for a net debit of about $32.55. 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 $18 level. By buying the call for $17.10 instead of paying about $34.84 for the stock, the assigned return rate for this alternate trade is 8.10%, but the stock has to finish above $32.79 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 5 STARS (out of 5) strong buy ranking on Canadian Natural Resources. Technical indicators for the stock have been bearish and support and resistance have been in the area of $34.28 and $35.74, respectively.

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