O'Reilly Automotive Inc. (ORLY) 11/18/09 PriceWatch Alert With 5.69% Downside Protection
Posted: Wednesday, November 18, 2009 8:22 AM EDT
By: Market Intelligence Center Staff
O'Reilly Automotive Inc. (NasdaqNM: ORLY) closed yesterday at $39.55. So far the stock has hit a 52-week low of $21.36 and 52-week high of $42.92. O'Reilly Automotive stock has been showing support around 38.76 and resistance in the 40.38 range. Technical indicators for the stock are Bullish and S&P gives ORLY a positive 4 STAR (out of 5) buy rating. ORLY appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Feb '10 40 covered call (OQR BH) for a net debit in the $37.30 area. That is also the break even stock price for this trade. This covered call has a 94 day duration, provides 5.69% downside protection and a 7.24% assigned return rate for a 28.11% annualized return rate (comparison purposes only). O'Reilly Automotive does not pay dividends at this time. [WBA-Seven Summits Research]
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