Warnaco Group Inc. (WRC) 11/3/09 PriceWatch Alert Bearish Price Movement
Posted: Tuesday, November 03, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Warnaco Group Inc. (NYSE: WRC) closed yesterday at $40.42. So far the stock has hit a 52-week low of $12.22 and 52-week high of $45.75. Warnaco Group stock has been showing support around 38.49 and resistance in the 42.33 range. Technical indicators for the stock are Bearish and S&P gives WRC a neutral 3 STAR (out of 5) hold rating. WRC appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 40 covered call (WRC AH) for a net debit in the $37.12 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 8.16% downside protection and a 7.76% assigned return rate for a 38.27% annualized return rate (comparison purposes only). Warnaco Group does not pay dividends at this time. [ATU-Seven Summits Research]
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