Illumina (ILMN) 11/20/09 PriceWatch Alert With 16.31% Downside Protection
Posted: Friday, November 20, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Illumina (NasdaqNM: ILMN) closed yesterday at $28.21. So far the stock has hit a 52-week low of $18.82 and 52-week high of $44.07. Illumina stock has been showing support around 27.41 and resistance in the 29.49 range. Technical indicators for the stock are Bearish and S&P gives ILMN a positive 4 STAR (out of 5) buy rating. ILMN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 25 covered call (IQA CE) for a net debit in the $23.61 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 16.31% downside protection and a 5.89% assigned return rate for a 17.91% annualized return rate (comparison purposes only). Illumina does not pay dividends at this time. [FBB-Seven Summits Research]
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