Silgan Holdings Inc. (SLGN) 11/18/09 PriceWatch Alert Targets 6.68% Downside Protection
Posted: Wednesday, November 18, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Silgan Holdings Inc. (NasdaqNM: SLGN) closed yesterday at $56.85. So far the stock has hit a 52-week low of $40.06 and 52-week high of $57.69. Silgan Holdings stock has been showing support around 56.48 and resistance in the 57.18 range. Technical indicators for the stock are Bullish and S&P gives SLGN a neutral 3 STAR (out of 5) hold rating. SLGN appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Feb '10 55 covered call (EQD BK) for a net debit in the $53.05 area. That is also the break even stock price for this trade. This covered call has a 94 day duration, provides 6.68% downside protection and a 3.68% assigned return rate for a 14.27% annualized return rate (comparison purposes only). Silgan Holdings has a current annual dividend yield of 1.35%. [WBA-Seven Summits Research]
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