Royal Bank of Canada (RY) 12/8/09 PriceWatch Alert Targets 9.12% Downside Protection
Posted: Tuesday, December 08, 2009 8:39 AM EDT
Royal Bank of Canada (NYSE: RY) closed yesterday at $52.63. So far the stock has hit a 52-week low of $20.51 and 52-week high of $55.58. Royal Bank of Canada stock has been showing support around 51.76 and resistance in the 53.94 range. Technical indicators for the stock are and S&P gives RY a neutral 3 STAR (out of 5) hold rating. RY appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 50 covered call (RY DJ) for a net debit in the $47.83 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 9.12% downside protection and a 4.54% assigned return rate for a 12.74% annualized return rate (comparison purposes only). Royal Bank of Canada has a current annual dividend yield of 3.42%. [ATU-Seven Summits Research]
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