O'Reilly Automotive Inc. (ORLY) 10/28/09 PriceWatch Alert Targets 26.64% Return

Posted: Wednesday, October 28, 2009 8:21 AM EDT

O'Reilly Automotive Inc. (NasdaqNM: ORLY) closed yesterday at $34.69. So far the stock has hit a 52-week low of $20.78 and 52-week high of $42.92. O'Reilly Automotive stock has been showing support around 33.79 and resistance in the 35.83 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 $32.29 area. That is also the break even stock price for this trade. This covered call has an 115 day duration, provides 6.92% downside protection and an 8.39% assigned return rate for a 26.64% annualized return rate (comparison purposes only). O'Reilly Automotive does not pay dividends at this time. [WBA-Seven Summits Research]

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