PetSmart (PETM) 11/11/09 PriceWatch Alert Technicals Showing Bullish
Posted: Wednesday, November 11, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
PetSmart (NasdaqNM: PETM) closed yesterday at $24.62. So far the stock has hit a 52-week low of $13.27 and 52-week high of $26.85. PetSmart stock has been showing support around 24.13 and resistance in the 25.03 range. Technical indicators for the stock are Bullish and S&P gives PETM a neutral 3 STAR (out of 5) hold rating. PETM 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 (QPT DX) for a net debit in the $21.42 area. That is also the break even stock price for this trade. This covered call has a 157 day duration, provides 13.00% downside protection and a 5.04% assigned return rate for an 11.72% annualized return rate (comparison purposes only). PetSmart has a current annual dividend yield of 1.63%. [WBA-Seven Summits Research]
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