Fortune Brands (FO) 10/30/09 PriceWatch Alert Down To $38.22 Break Even
Posted: Friday, October 30, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
Fortune Brands (NYSE: FO) closed yesterday at $40.32. So far the stock has hit a 52-week low of $17.68 and 52-week high of $46.77. Fortune Brands stock has been showing support around 38.80 and resistance in the 41.34 range. Technical indicators for the stock are Bearish and S&P gives FO a neutral 3 STAR (out of 5) hold rating. FO appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Dec '09 40 covered call (FO LH) for a net debit in the $38.22 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 5.21% downside protection and a 4.66% assigned return rate for a 34.00% annualized return rate (comparison purposes only). Fortune Brands has a current annual dividend yield of 1.86%. [FBB-Seven Summits Research]
CLICK HERE: FREE Fortune Brands (FO) Stock ReportSee what our analysts have uncovered about Fortune Brands (FO).