Lazard (LAZ) 11/6/09 PriceWatch Alert At $32.54 Break Even

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

Lazard (NYSE: LAZ) closed yesterday at $38.04. So far the stock has hit a 52-week low of $19.17 and 52-week high of $44.62. Lazard stock has been showing support around 36.76 and resistance in the 38.68 range. Technical indicators for the stock are Bearish and S&P gives LAZ a positive 4 STAR (out of 5) buy rating. LAZ appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 35 covered call (LAZ CG) for a net debit in the $32.54 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 14.46% downside protection and a 7.56% assigned return rate for a 20.59% annualized return rate (comparison purposes only). Lazard has a current annual dividend yield of 1.33%. [FBB-Seven Summits Research]

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