ONEOK (OKE) 11/17/09 PriceWatch Alert Up To 3.87% Downside Protection
Posted: Tuesday, November 17, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
ONEOK (NYSE: OKE) closed yesterday at $40.10. So far the stock has hit a 52-week low of $18.10 and 52-week high of $40.20. ONEOK stock has been showing support around 38.90 and resistance in the 40.80 range. Technical indicators for the stock are Bullish and S&P gives OKE a very positive 5 STAR (out of 5) strong buy rating. OKE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 40 covered call (OKE AH) for a net debit in the $38.55 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 3.87% downside protection and a 3.76% assigned return rate for a 22.88% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.39%. [ATU-Seven Summits Research]
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