Westlake Chemical (WLK) 11/6/09 PriceWatch Alert Targets 15.63% Return
Posted: Friday, November 06, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
Westlake Chemical (NYSE: WLK) closed yesterday at $25.64. So far the stock has hit a 52-week low of $10.30 and 52-week high of $28.22. Westlake Chemical stock has been showing support around 23.55 and resistance in the 27.03 range. Technical indicators for the stock are Bullish and S&P gives WLK a neutral 3 STAR (out of 5) hold rating. WLK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 22.50 covered call (WLK DX) for a net debit in the $21.04 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 17.94% downside protection and a 6.94% assigned return rate for a 15.63% annualized return rate (comparison purposes only). Westlake Chemical has a current annual dividend yield of 0.92%. [FBB-Seven Summits Research]
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