For a hedged play on Nasdaq 100 EW Index Direxion (QQQE), MarketIntelligenceCenter.com’s option-trade picking algorithms recommend the May 18, 2018 $46 covered call for a net debit in the $45.04 area. That is also the break-even stock price for the covered call. This trade will return 2.10%, or 12.02% annualized (for comparison purposes only), in 64 days. This covered call also provides 3.11% downside protection.
The current 52-week low is $37.63 and the 52-week high is $47.40. Nasdaq 100 EW Index Direxion stock has been showing support around $45.94 and resistance in the $47.16 range. The stock closed Mar 14, 2018's trading session at $46.50.