Big Lots (BIG) 11/20/09 PriceWatch Alert With 14.97% Downside Protection
Posted: Friday, November 20, 2009 8:40 AM EDT
By: Market Intelligence Center Staff
Big Lots (NYSE: BIG) closed yesterday at $24.72. So far the stock has hit a 52-week low of $12.62 and 52-week high of $28.50. Big Lots stock has been showing support around 24.26 and resistance in the 25.50 range. Technical indicators for the stock are Bearish and S&P gives BIG a neutral 3 STAR (out of 5) hold rating. BIG appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at an Apr '10 22.50 covered call (BIG DX) for a net debit in the $21.02 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 14.97% downside protection and a 7.04% assigned return rate for a 17.36% annualized return rate (comparison purposes only). Big Lots does not pay dividends at this time. [FBB-Seven Summits Research]
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