Under Armour (UA) 11/20/09 PriceWatch Alert Targets 16.54% Downside Protection
Posted: Friday, November 20, 2009 8:43 AM EDT
By: Market Intelligence Center Staff
Under Armour (NYSE: UA) closed yesterday at $27.81. So far the stock has hit a 52-week low of $11.94 and 52-week high of $33.31. Under Armour stock has been showing support around 26.32 and resistance in the 29.76 range. Technical indicators for the stock are Bearish and S&P gives UA a very positive 5 STAR (out of 5) strong buy rating. UA appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 25 covered call (UA DE) for a net debit in the $23.21 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 16.54% downside protection and a 7.71% assigned return rate for a 19.02% annualized return rate (comparison purposes only). Under Armour does not pay dividends at this time. [FBB-Seven Summits Research]
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