Sony (SNE) 11/2/09 PriceWatch Alert Support Down To $28.00

Posted: Monday, November 02, 2009 8:04 AM EDT

Sony (NYSE: SNE) ended the last trading session at $29.39. So far the stock has hit a 52-week low of $15.64 and 52-week high of $30.82. Sony stock has been showing support around 28.00 and resistance in the 31.52 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 $23.99 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 18.37% downside protection and a 4.21% assigned return rate for a 9.26% annualized return rate (comparison purposes only). Sony has a current annual dividend yield of 0.42%. [ABR-Seven Summits Research]

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