Intuit (INTU) 11/5/09 PriceWatch Alert Targets 12.28% Return

Posted: Thursday, November 05, 2009 8:14 AM EDT

Intuit (NasdaqNM: INTU) closed yesterday at $29.07. So far the stock has hit a 52-week low of $20.18 and 52-week high of $31.29. Intuit stock has been showing support around 28.75 and resistance in the 29.49 range. Technical indicators for the stock are Neutral and S&P gives INTU a neutral 3 STAR (out of 5) hold rating. INTU appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at an Apr '10 27.50 covered call (IQU DY) for a net debit in the $26.07 area. That is also the break even stock price for this trade. This covered call has a 163 day duration, provides 10.32% downside protection and a 5.49% assigned return rate for a 12.28% annualized return rate (comparison purposes only). Intuit does not pay dividends at this time. [THA-Seven Summits Research]

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