OSI Pharmaceuticals (OSIP) 11/3/09 PriceWatch Alert Shows Bullish Technicals
Posted: Tuesday, November 03, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
OSI Pharmaceuticals (NasdaqNM: OSIP) closed yesterday at $32.85. So far the stock has hit a 52-week low of $27.01 and 52-week high of $43.00. OSI Pharmaceuticals stock has been showing support around 31.72 and resistance in the 33.72 range. Technical indicators for the stock are Bullish and S&P gives OSIP a neutral 3 STAR (out of 5) hold rating. OSIP appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 30 covered call (GHU AF) for a net debit in the $29.05 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 11.57% downside protection and a 3.27% assigned return rate for a 16.13% annualized return rate (comparison purposes only). OSI Pharmaceuticals does not pay dividends at this time. [ATU-Seven Summits Research]
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