Loews Corporation (L) Trades Higher And Nearing 52 Week High
Posted: Thursday, November 12, 2009 8:38 AM EDT
Loews Corporation (NYSE: L) closed yesterday at $35.91. So far the stock has hit a 52-week low of $17.40 and 52-week high of $36.66. Loews stock has been showing support around 35.20 and resistance in the 36.48 range. Technical indicators for the stock are Bullish and S&P gives L a positive 4 STAR (out of 5) buy rating. L appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 35 covered call (L AG) for a net debit in the $33.86 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 5.71% downside protection and a 3.37% assigned return rate for an 18.91% annualized return rate (comparison purposes only). Loews has a current annual dividend yield of 0.70%. [THA-Seven Summits Research]
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