PetSmart (PETM) 11/16/09 PriceWatch Alert Support At Around $24.86
Posted: Monday, November 16, 2009 8:34 AM EDT
By: Market Intelligence Center Staff
PetSmart (NasdaqNM: PETM) ended the last trading session at $25.67. So far the stock has hit a 52-week low of $13.27 and 52-week high of $26.85. PetSmart stock has been showing support around 24.86 and resistance in the 26.40 range. Technical indicators for the stock are Bullish and S&P gives PETM a neutral 3 STAR (out of 5) hold rating. PETM appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (QPT DE) for a net debit in the $23.07 area. That is also the break even stock price for this trade. This covered call has a 152 day duration, provides 10.13% downside protection and an 8.37% assigned return rate for a 20.09% annualized return rate (comparison purposes only). PetSmart has a current annual dividend yield of 1.60%. [ABR-Seven Summits Research]
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