ONEOK Partners (OKS) 11/20/09 PriceWatch Alert At $53.86 Break Even

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

ONEOK Partners (NYSE: OKS) closed yesterday at $57.16. So far the stock has hit a 52-week low of $33.90 and 52-week high of $58.73. ONEOK Partners stock has been showing support around 56.12 and resistance in the 57.92 range. Technical indicators for the stock are Bullish and S&P gives OKS a neutral 3 STAR (out of 5) hold rating. OKS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 55 covered call (OKS DK) for a net debit in the $53.86 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 5.77% downside protection and a 2.12% assigned return rate for a 5.22% annualized return rate (comparison purposes only). ONEOK Partners has a current annual dividend yield of 7.51%. [FBB-Seven Summits Research]

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