Sybase (SY) Relatively Unchanged Yesterday And Trading In Tight Support/Resistance Range
Posted: Wednesday, November 04, 2009 8:27 AM EDT
By: Market Intelligence Center Staff
Sybase (NYSE: SY) closed yesterday at $39.35. So far the stock has hit a 52-week low of $22.20 and 52-week high of $42.57. Sybase stock has been showing support around 38.66 and resistance in the 39.90 range. Technical indicators for the stock are Bullish and S&P gives SY a neutral 3 STAR (out of 5) hold rating. SY appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 35 covered call (SY CG) for a net debit in the $33.85 area. That is also the break even stock price for this trade. This covered call has a 136 day duration, provides 13.98% downside protection and a 3.40% assigned return rate for a 9.12% annualized return rate (comparison purposes only). Sybase does not pay dividends at this time. [WBA-Seven Summits Research]
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