Electronic Arts (ERTS) 11/5/09 PriceWatch Alert With Support Around $17.43
Posted: Thursday, November 05, 2009 8:24 AM EDT
By: Market Intelligence Center Staff
Electronic Arts (NasdaqNM: ERTS) closed yesterday at $17.73. So far the stock has hit a 52-week low of $14.24 and 52-week high of $24.00. Electronic Arts stock has been showing support around 17.43 and resistance in the 18.27 range. Technical indicators for the stock are Bearish and S&P gives ERTS a weak 2 STAR (out of 5) sell rating. ERTS appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Mar '10 16 covered call (EZQ CP) for a net debit in the $14.83 area. That is also the break even stock price for this trade. This covered call has a 135 day duration, provides 16.36% downside protection and a 7.89% assigned return rate for a 21.33% annualized return rate (comparison purposes only). Electronic Arts does not pay dividends at this time. [THA-Seven Summits Research]
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