Endo Pharmaceuticals (ENDP) 11/3/09 PriceWatch Alert Up To 8.46% Downside Protection

Posted: Tuesday, November 03, 2009 8:34 AM EDT

Endo Pharmaceuticals (NasdaqNM: ENDP) closed yesterday at $22.47. So far the stock has hit a 52-week low of $15.75 and 52-week high of $26.14. Endo Pharmaceuticals stock has been showing support around 22.00 and resistance in the 22.86 range. Technical indicators for the stock are Neutral and S&P gives ENDP a neutral 3 STAR (out of 5) hold rating. ENDP appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 22.50 covered call (IUK DX) for a net debit in the $20.57 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 8.46% downside protection and a 9.38% assigned return rate for a 20.76% annualized return rate (comparison purposes only). Endo Pharmaceuticals does not pay dividends at this time. [ATU-Seven Summits Research]

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