Knight Trading Group (NITE) PriceWatch Alert for November 3, 2009

Posted: Tuesday, November 03, 2009 8:37 AM EDT

Knight Trading Group (NasdaqNM: NITE) closed yesterday at $16.40. So far the stock has hit a 52-week low of $12.71 and 52-week high of $23.11. Knight Trading Group stock has been showing support around 15.80 and resistance in the 17.28 range. Technical indicators for the stock are Bearish and S&P gives NITE a neutral 3 STAR (out of 5) hold rating. NITE appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 15 covered call (QTN DC) for a net debit in the $13.90 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 15.24% downside protection and a 7.91% assigned return rate for a 17.51% annualized return rate (comparison purposes only). Knight Trading Group does not pay dividends at this time. [ATU-Seven Summits Research]

Click Symbol For More News On: (NITE)