NICOR (GAS) 10/30/09 PriceWatch Alert Up To 9.33% Downside Protection
Posted: Friday, October 30, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
NICOR (NYSE: GAS) closed yesterday at $37.53. So far the stock has hit a 52-week low of $27.50 and 52-week high of $47.60. NICOR stock has been showing support around 36.75 and resistance in the 38.11 range. Technical indicators for the stock are Bullish and S&P gives GAS a positive 4 STAR (out of 5) buy rating. GAS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 35 covered call (GAS DG) for a net debit in the $34.03 area. That is also the break even stock price for this trade. This covered call has a 169 day duration, provides 9.33% downside protection and a 2.85% assigned return rate for a 6.16% annualized return rate (comparison purposes only). NICOR has a current annual dividend yield of 4.98%. [FBB-Seven Summits Research]
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