ONEOK Partners (OKS) 10/16/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, October 16, 2009 8:13 AM EDT
By: Market Intelligence Center Staff
ONEOK Partners (NYSE: OKS) closed yesterday at $56.12. So far the stock has hit a 52-week low of $33.90 and 52-week high of $56.75. ONEOK Partners stock has been showing support around 55.77 and resistance in the 56.55 range. Technical indicators for the stock are Bullish and S&P gives OKS a neutral 3 STAR (out of 5) hold rating. OKS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 55 covered call (OKS DK) for a net debit in the $53.37 area. That is also the break even stock price for this trade. This covered call has an 183 day duration, provides 4.90% downside protection and a 3.05% assigned return rate for a 6.09% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 7.75%. [FBB-Seven Summits Research]
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