PPG Industries (PPG) 11/20/09 PriceWatch Alert Up To 9.58% Downside Protection
Posted: Friday, November 20, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
PPG Industries (NYSE: PPG) closed yesterday at $59.48. So far the stock has hit a 52-week low of $28.16 and 52-week high of $62.31. PPG Industries stock has been showing support around 58.26 and resistance in the 60.78 range. Technical indicators for the stock are Bullish and S&P gives PPG a very positive 5 STAR (out of 5) strong buy rating. PPG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 55 covered call (PPG AK) for a net debit in the $53.78 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 9.58% downside protection and a 2.27% assigned return rate for a 14.53% annualized return rate (comparison purposes only). PPG Industries has a current annual dividend yield of 3.53%. [FBB-Seven Summits Research]
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