Sony (SNE) Down 2% Yesterday And Finished The Session Just Above Support
Posted: Thursday, October 29, 2009 9:20 AM EDT
By: Market Intelligence Center Staff
Sony (NYSE: SNE) closed yesterday at $28.63. So far the stock has hit a 52-week low of $15.64 and 52-week high of $30.15. Sony stock has been showing support around 28.10 and resistance in the 29.56 range. Technical indicators for the stock are Bullish and S&P gives SNE a weak 2 STAR (out of 5) sell rating. SNE appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 25 covered call (SNE DE) for a net debit in the $23.83 area. That is also the break even stock price for this trade. This covered call has a 170 day duration, provides 16.77% downside protection and a 4.91% assigned return rate for a 10.54% annualized return rate (comparison purposes only). Sony has a current annual dividend yield of 0.41%. [THA-Seven Summits Research]
CLICK HERE: FREE Sony (SNE) Stock ReportSee what our analysts have uncovered about Sony (SNE).