Manulife Financial (MFC) Moving Higher On Heavy Volume
Posted: Tuesday, December 01, 2009 8:57 AM EDT
Manulife Financial (NYSE: MFC) closed yesterday at $17.46. So far the stock has hit a 52-week low of $6.94 and 52-week high of $24.97. Manulife Financial stock has been showing support around 17.07 and resistance in the 17.79 range. Technical indicators for the stock are Bearish and S&P gives MFC a neutral 3 STAR (out of 5) hold rating. MFC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jun '10 15 covered call (MFC FC) for a net debit in the $14.06 area. That is also the break even stock price for this trade. This covered call has a 200 day duration, provides 19.47% downside protection and a 6.69% assigned return rate for a 12.20% annualized return rate (comparison purposes only). Manulife Financial has a current annual dividend yield of 3.00%. [ATU-Seven Summits Research]
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