Silgan Holdings Inc. (SLGN) 11/17/09 PriceWatch Alert Support Down To $55.53
Posted: Tuesday, November 17, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Silgan Holdings Inc. (NasdaqNM: SLGN) closed yesterday at $57.00. So far the stock has hit a 52-week low of $40.06 and 52-week high of $57.69. Silgan Holdings stock has been showing support around 55.53 and resistance in the 58.43 range. Technical indicators for the stock are Bullish and S&P gives SLGN a neutral 3 STAR (out of 5) hold rating. SLGN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 55 covered call (EQD BK) for a net debit in the $53.20 area. That is also the break even stock price for this trade. This covered call has a 95 day duration, provides 6.67% downside protection and a 3.38% assigned return rate for a 13.00% annualized return rate (comparison purposes only). Silgan Holdings has a current annual dividend yield of 1.36%. [ATU-Seven Summits Research]
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