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Potential Market Vectors Steel Index Fund (SLX) Trade Targets 2.14% Return

Dec 04, 2017 ( via COMTEX) --

A covered call identified by's patented algorithm on Market Vectors Steel Index Fund (<a href="">SLX</a>) could yield about 2.14% (4.04% annualized, for comparison purposes only) in 193 days. Pair a long position in the stock with the Jun 15, 2018 $42 call for a net debit of about $41.10. This position also has 2.95% downside protection. Market Vectors Steel Index Fund closed at $42.35 Dec 1, 2017. Technical indicators for SLX are bearish and support and resistance have been about $41.35 and $43.37, respectively.A

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