Watsco (WSO) 11/18/09 PriceWatch Alert Up To 7.24% Downside Protection
Posted: Wednesday, November 18, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Watsco (NYSE: WSO) closed yesterday at $52.50. So far the stock has hit a 52-week low of $29.34 and 52-week high of $57.63. Watsco stock has been showing support around 51.41 and resistance in the 53.99 range. Technical indicators for the stock are Bullish and S&P gives WSO a neutral 3 STAR (out of 5) hold rating. WSO appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 50 covered call (WSO AJ) for a net debit in the $48.70 area. That is also the break even stock price for this trade. This covered call has a 59 day duration, provides 7.24% downside protection and a 2.67% assigned return rate for a 16.51% annualized return rate (comparison purposes only). Watsco has a current annual dividend yield of 3.68%. [WBA-Seven Summits Research]
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