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Spectrum Pharmaceuticals (SPPI) Showing Bearish Technicals With Resistance At $19.57

Jan 03, 2018 ( via COMTEX) --

For a hedged play on Spectrum Pharmaceuticals (<a href="">SPPI</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the Aug 17, 2018 $15 covered call for a net debit in the $13.15 area. That is also the break-even stock price for the covered call. This trade will return 13.98%, or 22.58% annualized (for comparison purposes only), in 226 days. This covered call also provides 30.95% downside protection. The current 52-week low is $4.28 and the 52-week high is $21.95. Spectrum Pharmaceuticals stock has been showing support around $18.15 and resistance in the $19.57 range. The stock closed Jan 2, 2018's trading session at $19.05.A

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