Royal Bank of Canada (RY) 11/17/09 PriceWatch Alert Up To 10.02% Return
Posted: Tuesday, November 17, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Royal Bank of Canada (NYSE: RY) closed yesterday at $54.91. So far the stock has hit a 52-week low of $20.51 and 52-week high of $55.58. Royal Bank of Canada stock has been showing support around 54.12 and resistance in the 55.98 range. Technical indicators for the stock are Bullish and S&P gives RY a neutral 3 STAR (out of 5) hold rating. RY appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 50 covered call (RY DJ) for a net debit in the $48.01 area. That is also the break even stock price for this trade. This covered call has a 151 day duration, provides 12.57% downside protection and a 4.14% assigned return rate for a 10.02% annualized return rate (comparison purposes only). Royal Bank of Canada has a current annual dividend yield of 3.44%. [ATU-Seven Summits Research]
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