BJ's Wholesale Club (BJ) 7/30/10 PriceWatch Alert Could Hit 42.21% Return
Posted: Friday, July 30, 2010 8:20 AM EDT
By: Market Intelligence Center Staff
BJ's Wholesale Club (NYSE: BJ) closed yesterday at $45.04. So far the stock has hit a 52-week low of $29.73 and 52-week high of $47.51. BJ's Wholesale Club stock has been showing support around 43.87 and resistance in the 46.49 range. Technical indicators for the stock are Bullish and S&P gives BJ a positive 4 STAR (out of 5) buy rating. BJ appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Sep '10 45 covered call for a net debit in the $42.54 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 5.55% downside protection and a 5.78% assigned return rate for a 42.21% annualized return rate (comparison purposes only). BJ's Wholesale Club does not pay dividends at this time. [FBB-Seven Summits Research]
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