Snap on (SNA) PriceWatch Alert for November 20, 2009
Posted: Friday, November 20, 2009 8:06 AM EDT
By: Market Intelligence Center Staff
Snap on (NYSE: SNA) closed yesterday at $37.15. So far the stock has hit a 52-week low of $20.51 and 52-week high of $41.65. Snap on stock has been showing support around 36.34 and resistance in the 38.08 range. Technical indicators for the stock are Bullish and S&P gives SNA a positive 4 STAR (out of 5) buy rating. SNA appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 35 covered call (SNA CG) for a net debit in the $33.25 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 10.50% downside protection and a 5.26% assigned return rate for a 16.01% annualized return rate (comparison purposes only). Snap on has a current annual dividend yield of 3.15%. [FBB-Seven Summits Research]
CLICK HERE: FREE Snap on (SNA) Stock ReportSee what our analysts have uncovered about Snap on (SNA).