Manulife Financial (MFC) 2/9/10 PriceWatch Alert Up To 10.80% Downside Protection
Posted: Tuesday, February 09, 2010 8:40 AM EDT
By: Market Intelligence Center Staff
Manulife Financial (NYSE: MFC) closed yesterday at $17.59. 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 17.24 and resistance in the 18.26 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 Sep '10 17.50 covered call for a net debit in the $15.69 area. That is also the break even stock price for this trade. This covered call has a 221 day duration, provides 10.80% downside protection and an 11.54% assigned return rate for a 19.05% annualized return rate (comparison purposes only). Manulife Financial has a current annual dividend yield of 2.65%. [ATU-Seven Summits Research]
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