O'Reilly Automotive Inc. (ORLY) 10/12/09 PriceWatch Alert Shows Bearish Technicals

Posted: Monday, October 12, 2009 8:11 AM EDT

O'Reilly Automotive Inc. (NasdaqNM: ORLY) closed yesterday at $34.18. So far the stock has hit a 52-week low of $20.00 and 52-week high of $42.92. O'Reilly Automotive stock has been showing support around 33.73 and resistance in the 34.85 range. Technical indicators for the stock are Bearish and S&P gives ORLY a positive 4 STAR (out of 5) buy rating. ORLY appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Feb '10 35 covered call (OQR BG) for a net debit in the $31.88 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 6.73% downside protection and a 9.79% assigned return rate for a 27.27% annualized return rate (comparison purposes only). O'Reilly Automotive does not pay dividends at this time. [ABR-Seven Summits Research]

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