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Potential Reliance Steel and Aluminum (RS) Trade Targets 2.40% Return

Dec 05, 2017 ( via COMTEX) --'s option-trade picking algorithms have identified an attractive covered-call trade on Reliance Steel and Aluminum (<a href="">RS</a>). Look at the Jan 19, 2018 $80 covered call for a net debit in the $78.12 area.<br /> <br /> This trade has a duration of 45 days. The break-even point of this trade is the same as the net debit, which gives this trade 4.28%. If the stock closes at or above $80 at expiration this trade will return 2.40% or 19.51% (for comparison purposes only). <br /> <br /> RS closed Dec 4, 2017's trading session at $81.62. In the past year, the stock has hit a 52-week low of $68.46 and 52-week high of $88.58. Reliance Steel and Aluminum stock has been showing support around $78.78 and resistance in the $83.40 range. Technical indicators for the stock are bearish and S&P gives RS 4 STARS (out of 5) buy ranking.

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