Under Armour (UA) 11/6/09 PriceWatch Alert Down To $23.24 Break Even
Posted: Friday, November 06, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
Under Armour (NYSE: UA) closed yesterday at $27.84. So far the stock has hit a 52-week low of $11.94 and 52-week high of $33.31. Under Armour stock has been showing support around 26.35 and resistance in the 28.59 range. Technical indicators for the stock are Neutral and S&P gives UA a very positive 5 STAR (out of 5) strong buy rating. UA appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 25 covered call (UA DE) for a net debit in the $23.24 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 16.52% downside protection and a 7.57% assigned return rate for a 17.06% annualized return rate (comparison purposes only). Under Armour does not pay dividends at this time. [FBB-Seven Summits Research]
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