Lam Research (LRCX) 11/3/09 PriceWatch Alert Targets 18.24% Return

Posted: Tuesday, November 03, 2009 8:44 AM EDT

Lam Research (NasdaqNM: LRCX) closed yesterday at $34.03. So far the stock has hit a 52-week low of $14.72 and 52-week high of $38.51. Lam Research stock has been showing support around 32.61 and resistance in the 35.23 range. Technical indicators for the stock are Bearish and S&P gives LRCX a neutral 3 STAR (out of 5) hold rating. LRCX appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 30 covered call (LMQ AF) for a net debit in the $28.93 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 14.99% downside protection and a 3.70% assigned return rate for an 18.24% annualized return rate (comparison purposes only). Lam Research does not pay dividends at this time. [ATU-Seven Summits Research]

Click Symbol For More News On: (LRCX)