Wyeth (WYE) 10/6/09 PriceWatch Alert With 3.63% Downside Protection
Posted: Tuesday, October 06, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
Wyeth (NYSE: WYE) closed yesterday at $48.25. So far the stock has hit a 52-week low of $28.06 and 52-week high of $48.80. Wyeth stock has been showing support around 47.93 and resistance in the 48.57 range. Technical indicators for the stock are Bullish and S&P gives WYE a neutral 3 STAR (out of 5) hold rating. WYE appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 47.50 covered call (WYE AW) for a net debit in the $46.50 area. That is also the break even stock price for this trade. This covered call has a 102 day duration, provides 3.63% downside protection and a 2.15% assigned return rate for a 7.70% annualized return rate (comparison purposes only). Wyeth has a current annual dividend yield of 2.49%. [ATU-Seven Summits Research]
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