Valspar (VAL) 11/4/09 PriceWatch Alert Bearish Price Movement
Posted: Wednesday, November 04, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Valspar (NYSE: VAL) closed yesterday at $25.88. So far the stock has hit a 52-week low of $14.47 and 52-week high of $28.60. Valspar stock has been showing support around 25.06 and resistance in the 26.38 range. Technical indicators for the stock are Bearish and S&P gives VAL a neutral 3 STAR (out of 5) hold rating. VAL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 25 covered call (VAL AE) for a net debit in the $24.13 area. That is also the break even stock price for this trade. This covered call has a 73 day duration, provides 6.76% downside protection and a 3.61% assigned return rate for an 18.03% annualized return rate (comparison purposes only). Valspar has a current annual dividend yield of 2.37%. [WBA-Seven Summits Research]
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