Celanese (CE) 11/6/09 PriceWatch Alert Up To 19.15% Downside Protection
Posted: Friday, November 06, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Celanese (NYSE: CE) closed yesterday at $29.24. So far the stock has hit a 52-week low of $5.71 and 52-week high of $29.33. Celanese stock has been showing support around 27.61 and resistance in the 30.15 range. Technical indicators for the stock are Bullish and S&P gives CE a weak 2 STAR (out of 5) sell rating. CE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '10 25 covered call (CE CE) for a net debit in the $23.64 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 19.15% downside protection and a 5.75% assigned return rate for a 15.67% annualized return rate (comparison purposes only). Celanese has a current annual dividend yield of 0.58%. [FBB-Seven Summits Research]
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