SPX (SPW) 11/20/09 PriceWatch Alert Shows Bearish Technicals
Posted: Friday, November 20, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
SPX (NYSE: SPW) closed yesterday at $53.00. So far the stock has hit a 52-week low of $25.45 and 52-week high of $65.23. SPX stock has been showing support around 51.89 and resistance in the 54.93 range. Technical indicators for the stock are Bearish and S&P gives SPW a neutral 3 STAR (out of 5) hold rating. SPW appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jan '10 50 covered call (SPW AJ) for a net debit in the $48.30 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 8.87% downside protection and a 3.52% assigned return rate for a 22.54% annualized return rate (comparison purposes only). SPX has a current annual dividend yield of 1.78%. [FBB-Seven Summits Research]
CLICK HERE: FREE SPX (SPW) Stock ReportSee what our analysts have uncovered about SPX (SPW).