ONEOK Partners (OKS) PriceWatch Alert With $43.80 Break Even

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

ONEOK Partners (NYSE: OKS) closed yesterday at $46.00. So far the stock has hit a 52-week low of $33.90 and 52-week high of $61.27. ONEOK Partners stock has been showing support around 45.67 and resistance in the 46.17 range. Technical indicators for the stock are Bullish and S&P gives OKS a positive 4 STAR (out of 5) buy rating. OKS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Oct '09 45 covered call (OKS JI) for a net debit in the $43.80 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 4.78% downside protection and a 2.74% assigned return rate for a 9.71% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 9.43%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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