Bristol Myers (BMY) 10/27/09 PriceWatch Alert Support At Around $21.38

Posted: Tuesday, October 27, 2009 8:16 AM EDT

Bristol Myers (NYSE: BMY) closed yesterday at $21.92. So far the stock has hit a 52-week low of $17.15 and 52-week high of $23.98. Bristol Myers stock has been showing support around 21.38 and resistance in the 22.90 range. Technical indicators for the stock are Bearish and S&P gives BMY a very positive 5 STAR (out of 5) strong buy rating. BMY appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '10 21 covered call (BMY CW) for a net debit in the $20.11 area. That is also the break even stock price for this trade. This covered call has a 144 day duration, provides 8.26% downside protection and a 4.43% assigned return rate for an 11.22% annualized return rate (comparison purposes only). Bristol Myers has a current annual dividend yield of 5.52%. [ATU-Seven Summits Research]

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