PPG Industries (PPG) PriceWatch Alert Up To 10.45% Downside Protection

Posted: Wednesday, June 17, 2009 8:07 AM EDT

PPG Industries (NYSE: PPG) closed yesterday at $43.07. So far the stock has hit a 52-week low of $28.16 and 52-week high of $69.89. PPG Industries stock has been showing support around 42.13 and resistance in the 44.81 range. Technical indicators for the stock are Bearish and S&P gives PPG a neutral 3 STAR (out of 5) hold rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Aug '09 40 covered call (PPG HH) for a net debit in the $38.57 area. That is also the break even stock price for this trade. This covered call has a 66 day duration, provides 10.45% downside protection and a 3.71% assigned return rate for a 20.50% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 4.70%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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