McCormick (MKC) 11/3/09 PriceWatch Alert At $33.59 Break Even
Posted: Tuesday, November 03, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
McCormick (NYSE: MKC) closed yesterday at $35.04. So far the stock has hit a 52-week low of $28.08 and 52-week high of $35.69. McCormick stock has been showing support around 34.71 and resistance in the 35.47 range. Technical indicators for the stock are Bullish and S&P gives MKC a neutral 3 STAR (out of 5) hold rating. MKC appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 35 covered call (MKC CG) for a net debit in the $33.59 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 4.14% downside protection and a 4.20% assigned return rate for an 11.18% annualized return rate (comparison purposes only). McCormick has a current annual dividend yield of 2.74%. [ATU-Seven Summits Research]
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