Harman International Industries (HAR) 8/31/09 PriceWatch Alert Down To $25.62 Break Even
Posted: Monday, August 31, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Harman International Industries (NYSE: HAR) ended the last trading session at $30.92. 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 29.47 and resistance in the 32.83 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 $25.62 area. That is also the break even stock price for this trade. This covered call has a 229 day duration, provides 17.14% downside protection and a 17.10% assigned return rate for a 27.25% annualized return rate (comparison purposes only). Harman International Industries does not pay dividends at this time. [ABR-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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