Alcon (ACL) 11/13/09 PriceWatch Alert With $141.41 Break Even
Posted: Friday, November 13, 2009 8:27 AM EDT
By: Market Intelligence Center Staff
Alcon (NYSE: ACL) closed yesterday at $145.61. So far the stock has hit a 52-week low of $66.64 and 52-week high of $148.93. Alcon stock has been showing support around 143.57 and resistance in the 148.53 range. Technical indicators for the stock are Bullish and S&P gives ACL a positive 4 STAR (out of 5) buy rating. ACL appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 150 covered call (ACL AJ) for a net debit in the $141.41 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 2.88% downside protection and a 6.07% assigned return rate for a 34.64% annualized return rate (comparison purposes only). Alcon has a current annual dividend yield of 2.47%. [FBB-Seven Summits Research]
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