Lam Research (LRCX) 10/29/09 PriceWatch Alert With Support Around $32.42

Posted: Thursday, October 29, 2009 8:12 AM EDT

Lam Research (NasdaqNM: LRCX) closed yesterday at $33.47. So far the stock has hit a 52-week low of $14.72 and 52-week high of $38.51. Lam Research stock has been showing support around 32.42 and resistance in the 35.42 range. Technical indicators for the stock are Neutral and S&P gives LRCX a neutral 3 STAR (out of 5) hold rating. LRCX appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 30 covered call (LMQ CF) for a net debit in the $27.97 area. That is also the break even stock price for this trade. This covered call has a 142 day duration, provides 16.43% downside protection and a 7.26% assigned return rate for an 18.66% annualized return rate (comparison purposes only). Lam Research does not pay dividends at this time. [THA-Seven Summits Research]

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