ONEOK Partners (OKS) 11/6/09 PriceWatch Alert With 6.45% Downside Protection
Posted: Friday, November 06, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
ONEOK Partners (NYSE: OKS) closed yesterday at $57.34. 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 54.57 and resistance in the 58.73 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 an Apr '10 55 covered call (OKS DK) for a net debit in the $53.64 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 6.45% downside protection and a 2.54% assigned return rate for a 5.71% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 7.98%. [FBB-Seven Summits Research]
CLICK HERE: FREE ONEOK Partners (OKS) Stock ReportSee what our analysts have uncovered about ONEOK Partners (OKS).