Illumina (ILMN) 11/17/09 PriceWatch Alert Targets 10.54% Downside Protection
Posted: Tuesday, November 17, 2009 8:27 AM EDT
By: Market Intelligence Center Staff
Illumina (NasdaqNM: ILMN) closed yesterday at $32.25. So far the stock has hit a 52-week low of $18.82 and 52-week high of $44.07. Illumina stock has been showing support around 31.70 and resistance in the 33.28 range. Technical indicators for the stock are Bearish and S&P gives ILMN a positive 4 STAR (out of 5) buy rating. ILMN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 30 covered call (IQA AF) for a net debit in the $28.85 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 10.54% downside protection and a 3.99% assigned return rate for a 24.25% annualized return rate (comparison purposes only). Illumina does not pay dividends at this time. [ATU-Seven Summits Research]
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