ONEOK (OKE) 11/18/09 PriceWatch Alert Up To 3.61% Downside Protection
Posted: Wednesday, November 18, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
ONEOK (NYSE: OKE) closed yesterday at $40.12. So far the stock has hit a 52-week low of $18.10 and 52-week high of $40.20. ONEOK stock has been showing support around 39.69 and resistance in the 40.39 range. Technical indicators for the stock are Bullish and S&P gives OKE a very positive 5 STAR (out of 5) strong buy rating. OKE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 40 covered call (OKE AH) for a net debit in the $38.67 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 3.61% downside protection and a 3.44% assigned return rate for a 21.28% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.30%. [WBA-Seven Summits Research]
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