Silgan Holdings Inc. (SLGN) 11/9/09 PriceWatch Alert Up To 5.93% Downside Protection
Posted: Monday, November 09, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Silgan Holdings Inc. (NasdaqNM: SLGN) ended the last trading session at $55.68. So far the stock has hit a 52-week low of $40.06 and 52-week high of $57.41. Silgan Holdings stock has been showing support around 54.78 and resistance in the 56.60 range. Technical indicators for the stock are Bullish and S&P gives SLGN a neutral 3 STAR (out of 5) hold rating. SLGN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 55 covered call (EQD BK) for a net debit in the $52.38 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 5.93% downside protection and a 5.00% assigned return rate for a 17.73% annualized return rate (comparison purposes only). Silgan Holdings has a current annual dividend yield of 1.38%. [ABR-Seven Summits Research]
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