O'Reilly Automotive Inc. (ORLY) 10/29/09 PriceWatch Alert Targets 33.55% Return

Posted: Thursday, October 29, 2009 8:24 AM EDT

O'Reilly Automotive Inc. (NasdaqNM: ORLY) closed yesterday at $33.68. So far the stock has hit a 52-week low of $21.36 and 52-week high of $42.92. O'Reilly Automotive stock has been showing support around 32.64 and resistance in the 35.62 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 $31.68 area. That is also the break even stock price for this trade. This covered call has an 114 day duration, provides 5.94% downside protection and a 10.48% assigned return rate for a 33.55% annualized return rate (comparison purposes only). O'Reilly Automotive does not pay dividends at this time. [THA-Seven Summits Research]

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