Sunoco Logistics Partners LP (SXL) 10/12/09 PriceWatch Alert Targets 2.57% Downside Protection
Posted: Monday, October 12, 2009 8:11 AM EDT
By: Market Intelligence Center Staff
Sunoco Logistics Partners LP (NYSE: SXL) closed yesterday at $60.24. So far the stock has hit a 52-week low of $27.62 and 52-week high of $60.97. Sunoco Logistics stock has been showing support around 59.05 and resistance in the 61.15 range. Technical indicators for the stock are Bullish and S&P gives SXL a positive 4 STAR (out of 5) buy rating. SXL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 60 covered call (SXL BL) for a net debit in the $58.69 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 2.57% downside protection and a 2.23% assigned return rate for a 6.22% annualized return rate (comparison purposes only). Sunoco Logistics has a current annual dividend yield of 7.05%. [ABR-Seven Summits Research]
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