For a hedged play on Neurocrine Biosciences (NBIX), MarketIntelligenceCenter.com’s option-trade picking algorithms recommend the Aug 17, 2018 $90 covered call for a net debit in the $85.37 area. That is also the break-even stock price for the covered call. This trade will return 5.42%, or 21.51% annualized (for comparison purposes only), in 92 days. This covered call also provides 9.05% downside protection.
The current 52-week low is $41.76 and the 52-week high is $94.30. Neurocrine Biosciences stock has been showing support around $91.50 and resistance in the $95.49 range. The stock closed May 16, 2018's trading session at $93.87.