ONEOK (OKE) 11/20/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 20, 2009 8:26 AM EDT
By: Market Intelligence Center Staff
ONEOK (NYSE: OKE) closed yesterday at $39.12. So far the stock has hit a 52-week low of $18.10 and 52-week high of $40.25. ONEOK stock has been showing support around 38.41 and resistance in the 39.89 range. Technical indicators for the stock are Bullish and S&P gives OKE a very positive 5 STAR (out of 5) strong buy rating. OKE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 37.50 covered call (OKE DU) for a net debit in the $36.17 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 7.54% downside protection and a 3.68% assigned return rate for a 9.07% annualized return rate (comparison purposes only). ONEOK has a current annual dividend yield of 4.19%. [FBB-Seven Summits Research]
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