Minerals Technologies (MTX) 11/6/09 PriceWatch Alert Could Hit 19.31% Return

Posted: Friday, November 06, 2009 8:20 AM EDT

Minerals Technologies (NYSE: MTX) closed yesterday at $54.28. So far the stock has hit a 52-week low of $26.11 and 52-week high of $54.79. Minerals Technologies stock has been showing support around 50.78 and resistance in the 56.54 range. Technical indicators for the stock are Bullish and S&P gives MTX a positive 4 STAR (out of 5) buy rating. MTX appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 55 covered call (MTX BK) for a net debit in the $52.08 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 4.05% downside protection and a 5.61% assigned return rate for a 19.31% annualized return rate (comparison purposes only). Minerals Technologies has a current annual dividend yield of 0.39%. [FBB-Seven Summits Research]

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