Westlake Chemical (WLK) 11/12/09 PriceWatch Alert Shows Bullish Technicals
Posted: Thursday, November 12, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Westlake Chemical (NYSE: WLK) closed yesterday at $26.79. So far the stock has hit a 52-week low of $10.30 and 52-week high of $28.22. Westlake Chemical stock has been showing support around 26.07 and resistance in the 27.59 range. Technical indicators for the stock are Bullish and S&P gives WLK a neutral 3 STAR (out of 5) hold rating. WLK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 25 covered call (WLK AE) for a net debit in the $24.04 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 10.27% downside protection and a 3.99% assigned return rate for a 22.42% annualized return rate (comparison purposes only). Westlake Chemical has a current annual dividend yield of 0.87%. [THA-Seven Summits Research]
CLICK HERE: FREE Westlake Chemical (WLK) Stock ReportSee what our analysts have uncovered about Westlake Chemical (WLK).