Plantronics (PLT) 11/6/09 PriceWatch Alert Support Down To $24.03

Posted: Friday, November 06, 2009 8:46 AM EDT

Plantronics (NYSE: PLT) closed yesterday at $26.00. So far the stock has hit a 52-week low of $7.42 and 52-week high of $28.55. Plantronics stock has been showing support around 24.03 and resistance in the 26.99 range. Technical indicators for the stock are Bullish and S&P gives PLT a positive 4 STAR (out of 5) buy rating. PLT appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a May '10 25 covered call (PLT EE) for a net debit in the $22.20 area. That is also the break even stock price for this trade. This covered call has a 197 day duration, provides 14.62% downside protection and a 12.61% assigned return rate for a 23.37% annualized return rate (comparison purposes only). Plantronics has a current annual dividend yield of 0.81%. [FBB-Seven Summits Research]

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