ONEOK Partners (OKS) 11/23/09 PriceWatch Alert Support Down To $56.36

Posted: Monday, November 23, 2009 8:45 AM EDT

ONEOK Partners (NYSE: OKS) closed yesterday at $56.95. So far the stock has hit a 52-week low of $33.90 and 52-week high of $58.73. ONEOK Partners stock has been showing support around 56.36 and resistance in the 57.42 range. Technical indicators for the stock are Bullish and S&P gives OKS a neutral 3 STAR (out of 5) hold rating. OKS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 55 covered call (OKS DK) for a net debit in the $53.75 area. That is also the break even stock price for this trade. This covered call has a 145 day duration, provides 5.62% downside protection and a 2.33% assigned return rate for a 5.85% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 7.59%. [ABR-Seven Summits Research]

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