O'Reilly Automotive Inc. (ORLY) 11/20/09 PriceWatch Alert With Support Around $38.29
Posted: Friday, November 20, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
O'Reilly Automotive Inc. (NasdaqNM: ORLY) closed yesterday at $38.97. So far the stock has hit a 52-week low of $21.36 and 52-week high of $42.92. O'Reilly Automotive stock has been showing support around 38.29 and resistance in the 39.77 range. Technical indicators for the stock are Bullish and S&P gives ORLY a positive 4 STAR (out of 5) buy rating. ORLY appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Feb '10 40 covered call (OQR BH) for a net debit in the $37.02 area. That is also the break even stock price for this trade. This covered call has a 92 day duration, provides 5.00% downside protection and an 8.05% assigned return rate for a 31.94% annualized return rate (comparison purposes only). O'Reilly Automotive does not pay dividends at this time. [FBB-Seven Summits Research]
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