Manulife Financial (MFC) 11/3/09 PriceWatch Alert Could Hit 22.99% Return

Posted: Tuesday, November 03, 2009 8:40 AM EDT

Manulife Financial (NYSE: MFC) closed yesterday at $18.71. So far the stock has hit a 52-week low of $6.94 and 52-week high of $24.97. Manulife Financial stock has been showing support around 17.90 and resistance in the 19.38 range. Technical indicators for the stock are Bearish and S&P gives MFC a neutral 3 STAR (out of 5) hold rating. MFC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Mar '10 17.50 covered call (MFC CW) for a net debit in the $16.11 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 13.90% downside protection and an 8.63% assigned return rate for a 22.99% annualized return rate (comparison purposes only). Manulife Financial has a current annual dividend yield of 2.49%. [ATU-Seven Summits Research]

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