Harman International Industries (HAR) 8/28/09 PriceWatch Alert Down To $25.44 Break Even

Posted: Friday, August 28, 2009 8:02 AM EDT

Harman International Industries (NYSE: HAR) closed yesterday at $31.14. So far the stock has hit a 52-week low of $9.17 and 52-week high of $36.84. Harman International Industries stock has been showing support around 28.60 and resistance in the 32.58 range. Technical indicators for the stock are Bullish and S&P gives HAR a very weak 1 STAR (out of 5) strong sell rating. HAR appears on the Investors Observer Stocks In The News list. Analysts at JP Morgan initiated HAR on Tuesday at Overweight. For a hedged play on this stock, look at an Apr '10 30 covered call (HAR DW) for a net debit in the $25.44 area. That is also the break even stock price for this trade. This covered call has a 232 day duration, provides 18.30% downside protection and a 17.92% assigned return rate for a 28.20% annualized return rate (comparison purposes only). Harman International Industries does not pay dividends at this time. [FBB-Seven Summits Research] For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo

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