Loews Corporation (L) 11/6/09 PriceWatch Alert With Support Around $33.87

Posted: Friday, November 06, 2009 8:39 AM EDT

Loews Corporation (NYSE: L) closed yesterday at $34.60. So far the stock has hit a 52-week low of $17.40 and 52-week high of $36.66. Loews stock has been showing support around 33.87 and resistance in the 34.99 range. Technical indicators for the stock are Bullish and S&P gives L a positive 4 STAR (out of 5) buy rating. L appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jun '10 30 covered call (L FF) for a net debit in the $29.10 area. That is also the break even stock price for this trade. This covered call has a 225 day duration, provides 15.90% downside protection and a 3.09% assigned return rate for a 5.02% annualized return rate (comparison purposes only). Loews has a current annual dividend yield of 0.73%. [FBB-Seven Summits Research]

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