WW Grainger (GWW) 11/23/09 PriceWatch Alert Bullish Price Movement

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

WW Grainger (NYSE: GWW) closed yesterday at $97.16. So far the stock has hit a 52-week low of $59.01 and 52-week high of $102.54. WW Grainger stock has been showing support around 95.44 and resistance in the 98.36 range. Technical indicators for the stock are Bullish and S&P gives GWW a neutral 3 STAR (out of 5) hold rating. GWW appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 95 covered call (GWW AS) for a net debit in the $91.96 area. That is also the break even stock price for this trade. This covered call has a 54 day duration, provides 5.35% downside protection and a 3.31% assigned return rate for a 22.34% annualized return rate (comparison purposes only). WW Grainger has a current annual dividend yield of 1.87%. [ABR-Seven Summits Research]

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