SunTrust Banks (STI) 11/11/09 PriceWatch Alert Down To $14.04 Break Even
Posted: Wednesday, November 11, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
SunTrust Banks (NYSE: STI) closed yesterday at $20.29. So far the stock has hit a 52-week low of $6.00 and 52-week high of $38.29. SunTrust Banks stock has been showing support around 19.57 and resistance in the 21.31 range. Technical indicators for the stock are Bullish and S&P gives STI a neutral 3 STAR (out of 5) hold rating. STI appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 15 covered call (SFJ DC) for a net debit in the $14.04 area. That is also the break even stock price for this trade. This covered call has a 157 day duration, provides 30.80% downside protection and a 6.84% assigned return rate for a 15.90% annualized return rate (comparison purposes only). SunTrust Banks has a current annual dividend yield of 0.19%. [WBA-Seven Summits Research]
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