Urban Outfitters (URBN) 11/5/09 PriceWatch Alert Down To $28.32 Break Even

Posted: Thursday, November 05, 2009 8:09 AM EDT

Urban Outfitters (NasdaqNM: URBN) closed yesterday at $32.32. So far the stock has hit a 52-week low of $12.33 and 52-week high of $33.99. Urban Outfitters stock has been showing support around 31.64 and resistance in the 33.60 range. Technical indicators for the stock are Bullish and S&P gives URBN a positive 4 STAR (out of 5) buy rating. URBN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 30 covered call (URQ AF) for a net debit in the $28.32 area. That is also the break even stock price for this trade. This covered call has a 72 day duration, provides 12.38% downside protection and a 5.93% assigned return rate for a 30.07% annualized return rate (comparison purposes only). Urban Outfitters does not pay dividends at this time. [THA-Seven Summits Research]

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