Cooper Tire and Rubber (CTB) 11/20/09 PriceWatch Alert Down To $13.99 Break Even
Posted: Friday, November 20, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
Cooper Tire and Rubber (NYSE: CTB) closed yesterday at $18.79. So far the stock has hit a 52-week low of $2.96 and 52-week high of $19.48. Cooper stock has been showing support around 18.08 and resistance in the 19.28 range. Technical indicators for the stock are Bullish and S&P gives CTB a positive 4 STAR (out of 5) buy rating. CTB appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a May '10 15 covered call (CTB EC) for a net debit in the $13.99 area. That is also the break even stock price for this trade. This covered call has an 183 day duration, provides 25.55% downside protection and a 7.22% assigned return rate for a 14.40% annualized return rate (comparison purposes only). Cooper has a current annual dividend yield of 2.22%. [FBB-Seven Summits Research]
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