Symantec (SYMC) 10/27/09 PriceWatch Alert At $14.64 Break Even

Posted: Tuesday, October 27, 2009 8:24 AM EDT

Symantec (NasdaqNM: SYMC) closed yesterday at $16.44. So far the stock has hit a 52-week low of $10.05 and 52-week high of $18.17. Symantec stock has been showing support around 15.99 and resistance in the 17.21 range. Technical indicators for the stock are Bullish and S&P gives SYMC a neutral 3 STAR (out of 5) hold rating. SYMC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 16 covered call (SYQ DH) for a net debit in the $14.64 area. That is also the break even stock price for this trade. This covered call has a 172 day duration, provides 10.95% downside protection and a 9.29% assigned return rate for a 19.71% annualized return rate (comparison purposes only). Symantec does not pay dividends at this time. [ATU-Seven Summits Research]

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