Goodyear Tire and Rubber (GT) 11/17/09 PriceWatch Alert Targets 21.28% Downside Protection
Posted: Tuesday, November 17, 2009 8:08 AM EDT
By: Market Intelligence Center Staff
Goodyear Tire and Rubber (NYSE: GT) closed yesterday at $14.57. So far the stock has hit a 52-week low of $3.17 and 52-week high of $18.84. Goodyear stock has been showing support around 14.20 and resistance in the 14.94 range. Technical indicators for the stock are Bearish and S&P gives GT a neutral 3 STAR (out of 5) hold rating. GT appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 12.50 covered call (GT DV) for a net debit in the $11.47 area. That is also the break even stock price for this trade. This covered call has a 151 day duration, provides 21.28% downside protection and an 8.98% assigned return rate for a 21.71% annualized return rate (comparison purposes only). Goodyear does not pay dividends at this time. [ATU-Seven Summits Research]
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