Lazard (LAZ) 11/20/09 PriceWatch Alert With 15.86% Downside Protection
Posted: Friday, November 20, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
Lazard (NYSE: LAZ) closed yesterday at $39.09. So far the stock has hit a 52-week low of $19.17 and 52-week high of $44.62. Lazard stock has been showing support around 37.98 and resistance in the 41.02 range. Technical indicators for the stock are Neutral and S&P gives LAZ a positive 4 STAR (out of 5) buy rating. LAZ appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 35 covered call (LAZ CG) for a net debit in the $32.89 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 15.86% downside protection and a 6.42% assigned return rate for a 19.51% annualized return rate (comparison purposes only). Lazard has a current annual dividend yield of 1.23%. [FBB-Seven Summits Research]
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