Platinum Underwriters (PTP) PriceWatch Alert With 5.49% Downside Protection
Posted: Tuesday, August 11, 2009 8:13 AM EDT
By: Market Intelligence Center Staff
Platinum Underwriters (NYSE: PTP) closed yesterday at $34.62. So far the stock has hit a 52-week low of $21.38 and 52-week high of $38.76. Platinum Underwriters stock has been showing support around 33.73 and resistance in the 35.13 range. Technical indicators for the stock are Bullish 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 a Jan '10 35 covered call (PTP AG) for a net debit in the $32.72 area. That is also the break even stock price for this trade. This covered call has a 158 day duration, provides 5.49% downside protection and a 6.97% assigned return rate for a 16.10% annualized return rate (comparison purposes only). Platinum Underwriters has a current annual dividend yield of 0.94%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]
CLICK HERE: FREE Platinum Underwriters (PTP) Stock ReportSee what our analysts have uncovered about Platinum Underwriters (PTP).