ONEOK (OKE) Gets S&P 5 Star Strong Buy Rating Showing Bullish Technicals

Posted: Wednesday, November 11, 2009 9:10 AM EDT

ONEOK (NYSE: OKE) closed yesterday at $39.00. So far the stock has hit a 52-week low of $18.10 and 52-week high of $39.53. ONEOK stock has been showing support around 38.23 and resistance in the 39.45 range. Technical indicators for the stock are Bullish and S&P gives OKE a very positive 5 STAR (out of 5) strong buy rating. OKE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 37.50 covered call (OKE DU) for a net debit in the $36.15 area. That is also the break even stock price for this trade. This covered call has a 157 day duration, provides 7.31% downside protection and a 3.73% assigned return rate for an 8.68% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.36%. [WBA-Seven Summits Research]

Click Symbol For More News On: (OKE)