PetSmart (PETM) Approaching Its 52 Week High
Posted: Tuesday, February 09, 2010 8:09 AM EDT
By: Market Intelligence Center Staff
PetSmart (NASDAQ: PETM) closed yesterday at $25.38. So far the stock has hit a 52-week low of $16.17 and 52-week high of $27.50. PetSmart stock has been showing support around 24.87 and resistance in the 25.91 range. Technical indicators for the stock are Bearish and S&P gives PETM a neutral 3 STAR (out of 5) hold rating. PETM appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jul '10 25 covered call for a net debit in the $23.23 area. That is also the break even stock price for this trade. This covered call has a 158 day duration, provides 8.47% downside protection and a 7.62% assigned return rate for a 17.60% annualized return rate (comparison purposes only). PetSmart has a current annual dividend yield of 1.57%. [ATU-Seven Summits Research]
CLICK HERE: FREE PetSmart (PETM) Stock ReportSee what our analysts have uncovered about PetSmart (PETM).