Platinum Underwriters (PTP) 2/9/10 PriceWatch Alert Up To 22.87% Return
Posted: Tuesday, February 09, 2010 8:46 AM EDT
By: Market Intelligence Center Staff
Platinum Underwriters (NYSE: PTP) closed yesterday at $34.64. So far the stock has hit a 52-week low of $25.18 and 52-week high of $39.45. Platinum Underwriters stock has been showing support around 34.29 and resistance in the 35.25 range. Technical indicators for the stock are Bearish and S&P gives PTP a neutral 3 STAR (out of 5) hold rating. PTP appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at an Apr '10 35 covered call for a net debit in the $33.59 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 3.03% downside protection and a 4.20% assigned return rate for a 22.87% annualized return rate (comparison purposes only). Platinum Underwriters has a current annual dividend yield of 0.91%. [ATU-Seven Summits Research]
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