Lam Research (LRCX) 11/20/09 PriceWatch Alert Targets 17.20% Downside Protection
Posted: Friday, November 20, 2009 8:46 AM EDT
By: Market Intelligence Center Staff
Lam Research (NasdaqNM: LRCX) closed yesterday at $34.30. So far the stock has hit a 52-week low of $14.72 and 52-week high of $38.51. Lam Research stock has been showing support around 33.49 and resistance in the 35.49 range. Technical indicators for the stock are Bearish and S&P gives LRCX a neutral 3 STAR (out of 5) hold rating. LRCX appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Mar '10 30 covered call (LMQ CF) for a net debit in the $28.40 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 17.20% downside protection and a 5.63% assigned return rate for a 17.14% annualized return rate (comparison purposes only). Lam Research does not pay dividends at this time. [FBB-Seven Summits Research]
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