Cameron International (CAM) 11/13/09 PriceWatch Alert Targets 10.05% Downside Protection
Posted: Friday, November 13, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
Cameron International (NYSE: CAM) closed yesterday at $39.80. So far the stock has hit a 52-week low of $16.15 and 52-week high of $42.39. Cameron International stock has been showing support around 38.45 and resistance in the 42.05 range. Technical indicators for the stock are Bullish and S&P gives CAM a positive 4 STAR (out of 5) buy rating. CAM appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 37.50 covered call (CAM AT) for a net debit in the $35.80 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 10.05% downside protection and a 4.75% assigned return rate for a 27.08% annualized return rate (comparison purposes only). Cameron International does not pay dividends at this time. [FBB-Seven Summits Research]
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