Silgan Holdings Inc. (SLGN) PriceWatch Alert Up To 11.58% Downside Protection

Posted: Monday, July 06, 2009 8:07 AM EDT

Silgan Holdings Inc. (NasdaqNM: SLGN) closed yesterday at $48.36. So far the stock has hit a 52-week low of $39.21 and 52-week high of $58.19. Silgan Holdings stock has been showing support around 47.29 and resistance in the 49.91 range. Technical indicators for the stock are Bullish and S&P gives SLGN a neutral 3 STAR (out of 5) hold rating. SLGN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Nov '09 45 covered call (EQD KI) for a net debit in the $42.76 area. That is also the break even stock price for this trade. This covered call has a 138 day duration, provides 11.58% downside protection and a 5.24% assigned return rate for a 13.86% annualized return rate (comparison purposes only). Silgan Holdings has a current annual dividend yield of 1.56%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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