Barclays Bank PLC (BCS) 11/3/09 PriceWatch Alert Targets 13.93% Downside Protection
Posted: Tuesday, November 03, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Barclays Bank PLC (NYSE: BCS) closed yesterday at $21.53. So far the stock has hit a 52-week low of $2.75 and 52-week high of $25.68. Barclays stock has been showing support around 20.65 and resistance in the 22.23 range. Technical indicators for the stock are Bearish and S&P gives BCS a neutral 3 STAR (out of 5) hold rating. BCS appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Mar '10 20 covered call (BCS CD) for a net debit in the $18.53 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 13.93% downside protection and a 7.93% assigned return rate for a 21.14% annualized return rate (comparison purposes only). Barclays does not pay dividends at this time. [ATU-Seven Summits Research]
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