ONEOK (OKE) 11/19/09 PriceWatch Alert With 8.56% Downside Protection
Posted: Thursday, November 19, 2009 8:20 AM EDT
By: Market Intelligence Center Staff
ONEOK (NYSE: OKE) closed yesterday at $39.73. So far the stock has hit a 52-week low of $18.10 and 52-week high of $40.25. ONEOK stock has been showing support around 39.28 and resistance in the 40.48 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 an Apr '10 37.50 covered call (OKE DU) for a net debit in the $36.33 area. That is also the break even stock price for this trade. This covered call has a 149 day duration, provides 8.56% downside protection and a 3.22% assigned return rate for a 7.89% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.19%. [THA-Seven Summits Research]
CLICK HERE: FREE ONEOK (OKE) Stock ReportSee what our analysts have uncovered about ONEOK (OKE).