ONEOK Partners (OKS) 11/5/09 PriceWatch Alert With Support Around $53.78
Posted: Thursday, November 05, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
ONEOK Partners (NYSE: OKS) closed yesterday at $56.13. So far the stock has hit a 52-week low of $33.90 and 52-week high of $58.73. ONEOK Partners stock has been showing support around 53.78 and resistance in the 58.36 range. Technical indicators for the stock are Bullish and S&P gives OKS a neutral 3 STAR (out of 5) hold rating. OKS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 55 covered call (OKS AK) for a net debit in the $53.63 area. That is also the break even stock price for this trade. This covered call has a 72 day duration, provides 4.45% downside protection and a 2.55% assigned return rate for a 12.95% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 8.01%. [THA-Seven Summits Research]
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