Plains All American Pipeline (PAA) 10/1/09 PriceWatch Alert With Support Around $45.47
Posted: Thursday, October 01, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
Plains All American Pipeline (NYSE: PAA) closed yesterday at $46.29. So far the stock has hit a 52-week low of $23.25 and 52-week high of $50.33. Plains All American Pipeline stock has been showing support around 45.47 and resistance in the 47.81 range. Technical indicators for the stock are Bearish and S&P gives PAA a positive 4 STAR (out of 5) buy rating. PAA appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 45 covered call (PAA BI) for a net debit in the $43.89 area. That is also the break even stock price for this trade. This covered call has a 142 day duration, provides 5.18% downside protection and a 2.53% assigned return rate for a 6.50% annualized return rate (comparison purposes only). Plains All American Pipeline has a current annual dividend yield of 7.65%. [THA-Seven Summits Research]
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