Royal Bank of Canada (RY) 11/13/09 PriceWatch Alert Up To 11.15% Return
Posted: Friday, November 13, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
Royal Bank of Canada (NYSE: RY) closed yesterday at $54.24. So far the stock has hit a 52-week low of $20.51 and 52-week high of $55.44. Royal Bank of Canada stock has been showing support around 53.48 and resistance in the 55.38 range. Technical indicators for the stock are Bullish and S&P gives RY a neutral 3 STAR (out of 5) hold rating. RY appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 50 covered call (RY DJ) for a net debit in the $47.74 area. That is also the break even stock price for this trade. This covered call has a 155 day duration, provides 11.98% downside protection and a 4.73% assigned return rate for an 11.15% annualized return rate (comparison purposes only). Royal Bank of Canada has a current annual dividend yield of 3.45%. [FBB-Seven Summits Research]
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