Cnooc (CEO) 11/20/09 PriceWatch Alert Could Hit 29.17% Return
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
Cnooc (NYSE: CEO) closed yesterday at $160.00. So far the stock has hit a 52-week low of $60.57 and 52-week high of $167.15. Cnooc stock has been showing support around 156.62 and resistance in the 163.76 range. Technical indicators for the stock are Bullish and S&P gives CEO a positive 4 STAR (out of 5) buy rating. CEO appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 160 covered call (CEO CL) for a net debit in the $146.00 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 8.75% downside protection and a 9.59% assigned return rate for a 29.17% annualized return rate (comparison purposes only). Cnooc has a current annual dividend yield of 2.79%. [FBB-Seven Summits Research]
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