Darden Restaurants (DRI) PriceWatch Alert for November 13, 2009
Posted: Friday, November 13, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
Darden Restaurants (NYSE: DRI) closed yesterday at $31.88. So far the stock has hit a 52-week low of $13.21 and 52-week high of $41.21. Darden Restaurants stock has been showing support around 31.14 and resistance in the 33.16 range. Technical indicators for the stock are Bearish and S&P gives DRI a weak 2 STAR (out of 5) sell rating. DRI appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 31 covered call (DRI AI) for a net debit in the $29.48 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 7.53% downside protection and a 5.16% assigned return rate for a 29.41% annualized return rate (comparison purposes only). Darden Restaurants has a current annual dividend yield of 3.07%. [FBB-Seven Summits Research]
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