Big Lots (BIG) 12/4/09 PriceWatch Alert Technicals Showing Bearish
Posted: Friday, December 04, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Big Lots (NYSE: BIG) closed yesterday at $23.54. So far the stock has hit a 52-week low of $12.62 and 52-week high of $28.50. Big Lots stock has been showing support around 23.01 and resistance in the 24.51 range. Technical indicators for the stock are Bearish and S&P gives BIG a neutral 3 STAR (out of 5) hold rating. BIG appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at an Apr '10 20 covered call (BIG DD) for a net debit in the $19.04 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 19.12% downside protection and a 5.04% assigned return rate for a 13.73% annualized return rate (comparison purposes only). Big Lots does not pay dividends at this time. [FBB-Seven Summits Research]
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