PPG Industries (PPG) 11/9/09 PriceWatch Alert Up To 9.35% Downside Protection
Posted: Monday, November 09, 2009 8:29 AM EDT
By: Market Intelligence Center Staff
PPG Industries (NYSE: PPG) ended the last trading session at $58.80. So far the stock has hit a 52-week low of $28.16 and 52-week high of $62.31. PPG Industries stock has been showing support around 57.54 and resistance in the 60.14 range. Technical indicators for the stock are Bullish and S&P gives PPG a very positive 5 STAR (out of 5) strong buy rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 55 covered call (PPG AK) for a net debit in the $53.30 area. That is also the break even stock price for this trade. This covered call has a 68 day duration, provides 9.35% downside protection and a 3.19% assigned return rate for a 17.12% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.68%. [ABR-Seven Summits Research]
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