BlackRock (BLK) 11/3/09 PriceWatch Alert Support At Around $213.87
Posted: Tuesday, November 03, 2009 8:39 AM EDT
By: Market Intelligence Center Staff
BlackRock (NYSE: BLK) closed yesterday at $220.71. So far the stock has hit a 52-week low of $88.91 and 52-week high of $240.00. BlackRock stock has been showing support around 213.87 and resistance in the 225.19 range. Technical indicators for the stock are Bullish and S&P gives BLK a neutral 3 STAR (out of 5) hold rating. BLK appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 230 covered call (BDW AW) for a net debit in the $211.81 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 4.03% downside protection and an 8.59% assigned return rate for a 42.36% annualized return rate (comparison purposes only). BlackRock has a current annual dividend yield of 1.39%. [ATU-Seven Summits Research]
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