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Potential China Petroleum and Chemcial (SNP) Trade Could Hit 2.15% Return

Dec 05, 2017 ( via COMTEX) --

After Dec 4, 2017aEUR(TM)s trading in China Petroleum and Chemcial (<a href="">SNP</a>) the algorithms behind's Artifical Intelligence Center picked out a trade that offers a 2.15% or 17.51% (for comparison purposes only), while providing 4.06% downside protection. The trade is a Jan 19, 2018 covered call at the $70 level for a net debit of about $68.51. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $70.62 and $72.12, respectively.

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