Eli Lilly (LLY) 11/5/09 PriceWatch Alert Support At Around $33.27

Posted: Thursday, November 05, 2009 8:31 AM EDT

Eli Lilly (NYSE: LLY) closed yesterday at $33.98. So far the stock has hit a 52-week low of $27.21 and 52-week high of $40.78. Eli Lilly stock has been showing support around 33.27 and resistance in the 34.73 range. Technical indicators for the stock are Bullish and S&P gives LLY a neutral 3 STAR (out of 5) hold rating. LLY appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 34 covered call (LLY AS) for a net debit in the $32.88 area. That is also the break even stock price for this trade. This covered call has a 72 day duration, provides 3.24% downside protection and a 3.41% assigned return rate for a 17.27% annualized return rate (comparison purposes only). Eli Lilly has a current annual dividend yield of 5.76%. [THA-Seven Summits Research]

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