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Potential Symantec (SYMC) Trade Has 7.23% Downside Protection

Dec 07, 2017 ( via COMTEX) --'s option-trade picking algorithms have identified an attractive covered-call trade on Symantec (<a href="">SYMC</a>). Look at the Apr 20, 2018 $27 covered call for a net debit in the $25.37 area.<br /> <br /> This trade has a duration of 134 days. The break-even point of this trade is the same as the net debit, which gives this trade 7.23%. If the stock closes at or above $27 at expiration this trade will return 6.38% or 17.38% (for comparison purposes only). <br /> <br /> SYMC closed Dec 6, 2017's trading session at $27.36. In the past year, the stock has hit a 52-week low of $23.77 and 52-week high of $34.20. Symantec stock has been showing support around $26.91 and resistance in the $27.89 range. Technical indicators for the stock are bearish and S&P gives SYMC 4 STARS (out of 5) buy ranking.

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