Alaska Air Group (ALK) 11/20/09 PriceWatch Alert With Support Around $28.08
Posted: Friday, November 20, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Alaska Air Group (NYSE: ALK) closed yesterday at $29.03. So far the stock has hit a 52-week low of $13.61 and 52-week high of $30.95. Alaska Air Group stock has been showing support around 28.08 and resistance in the 29.66 range. Technical indicators for the stock are Bullish and S&P gives ALK a neutral 3 STAR (out of 5) hold rating. ALK appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 25 covered call (ALK DE) for a net debit in the $23.53 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 18.95% downside protection and a 6.25% assigned return rate for a 15.41% annualized return rate (comparison purposes only). Alaska Air Group does not pay dividends at this time. [FBB-Seven Summits Research]
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