Chicos FAS (CHS) 11/20/09 PriceWatch Alert Support Down To $14.05

Posted: Friday, November 20, 2009 8:33 AM EDT

Chicos FAS (NYSE: CHS) closed yesterday at $14.60. So far the stock has hit a 52-week low of $1.72 and 52-week high of $15.43. Chicos FAS stock has been showing support around 14.05 and resistance in the 14.99 range. Technical indicators for the stock are Bullish and S&P gives CHS a very positive 5 STAR (out of 5) strong buy rating. CHS appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a May '10 12.50 covered call (CHS EV) for a net debit in the $11.30 area. That is also the break even stock price for this trade. This covered call has an 183 day duration, provides 22.60% downside protection and a 10.62% assigned return rate for a 21.18% annualized return rate (comparison purposes only). Chicos FAS does not pay dividends at this time. [FBB-Seven Summits Research]

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