Ball (BLL) 11/3/09 PriceWatch Alert With Support Around $47.43

Posted: Tuesday, November 03, 2009 8:39 AM EDT

Ball (NYSE: BLL) closed yesterday at $48.96. So far the stock has hit a 52-week low of $28.15 and 52-week high of $52.46. Ball stock has been showing support around 47.43 and resistance in the 50.73 range. Technical indicators for the stock are Bearish and S&P gives BLL a positive 4 STAR (out of 5) buy rating. BLL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 45 covered call (BLL BI) for a net debit in the $43.56 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 11.03% downside protection and a 3.31% assigned return rate for an 11.07% annualized return rate (comparison purposes only). Ball has a current annual dividend yield of 0.79%. [ATU-Seven Summits Research]

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