ONEOK (OKE) PriceWatch Alert for November 12, 2009
Posted: Thursday, November 12, 2009 8:31 AM EDT
By: Market Intelligence Center Staff
ONEOK (NYSE: OKE) closed yesterday at $38.80. So far the stock has hit a 52-week low of $18.10 and 52-week high of $39.53. ONEOK stock has been showing support around 37.97 and resistance in the 39.79 range. Technical indicators for the stock are Bullish and S&P gives OKE a very positive 5 STAR (out of 5) strong buy rating. OKE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 37.50 covered call (OKE AU) for a net debit in the $36.60 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 5.67% downside protection and a 2.46% assigned return rate for a 13.81% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.36%. [THA-Seven Summits Research]
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