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Potential Encore Wire (WIRE) Trade Has 10.30% Downside Protection

Dec 07, 2017 (Marketintelligencecenter.com via COMTEX) --

For a hedged play on Encore Wire (<a href="http://www.marketintelligencecenter.com/symbol/WIRE">WIRE</a>), MarketIntelligenceCenter.comaEUR(TM)s option-trade picking algorithms recommend the May 18, 2018 $45 covered call for a net debit in the $43.50 area. That is also the break-even stock price for the covered call. This trade will return 3.44%, or 7.76% annualized (for comparison purposes only), in 162 days. This covered call also provides 10.30% downside protection. The current 52-week low is $37.30 and the 52-week high is $49.75. Encore Wire stock has been showing support around $45.43 and resistance in the $50.23 range. The stock closed Dec 6, 2017's trading session at $48.50.A

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