Westlake Chemical (WLK) PriceWatch Alert for November 17, 2009
Posted: Tuesday, November 17, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
Westlake Chemical (NYSE: WLK) closed yesterday at $27.74. So far the stock has hit a 52-week low of $10.30 and 52-week high of $28.22. Westlake Chemical stock has been showing support around 26.52 and resistance in the 28.36 range. Technical indicators for the stock are Bullish and S&P gives WLK a neutral 3 STAR (out of 5) hold rating. WLK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (WLK DE) for a net debit in the $23.34 area. That is also the break even stock price for this trade. This covered call has a 151 day duration, provides 15.86% downside protection and a 7.11% assigned return rate for a 17.19% annualized return rate (comparison purposes only). Westlake Chemical has a current annual dividend yield of 0.87%. [ATU-Seven Summits Research]
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