PPG Industries (PPG) 11/25/09 PriceWatch Alert With Support Around $58.97

Posted: Wednesday, November 25, 2009 8:41 AM EDT

PPG Industries (NYSE: PPG) closed yesterday at $59.85. So far the stock has hit a 52-week low of $28.16 and 52-week high of $62.31. PPG Industries stock has been showing support around 58.97 and resistance in the 61.29 range. Technical indicators for the stock are Bullish and S&P gives PPG a very positive 5 STAR (out of 5) strong buy rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 55 covered call (PPG BK) for a net debit in the $53.65 area. That is also the break even stock price for this trade. This covered call has an 87 day duration, provides 10.36% downside protection and a 2.52% assigned return rate for a 10.56% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.65%. [WBA-Seven Summits Research]

Click Symbol For More News On: (PPG)