JM Smucker (SJM) 11/3/09 PriceWatch Alert At $51.20 Break Even
Posted: Tuesday, November 03, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
JM Smucker (NYSE: SJM) closed yesterday at $52.20. So far the stock has hit a 52-week low of $34.09 and 52-week high of $55.36. JM Smucker stock has been showing support around 51.40 and resistance in the 53.42 range. Technical indicators for the stock are Bearish and S&P gives SJM a very positive 5 STAR (out of 5) strong buy rating. SJM appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 55 covered call (SJM AK) for a net debit in the $51.20 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 1.92% downside protection and a 7.42% assigned return rate for a 36.61% annualized return rate (comparison purposes only). JM Smucker has a current annual dividend yield of 2.66%. [ATU-Seven Summits Research]
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