Westlake Chemical (WLK) PriceWatch Alert for November 20, 2009
Posted: Friday, November 20, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
Westlake Chemical (NYSE: WLK) closed yesterday at $26.99. So far the stock has hit a 52-week low of $10.30 and 52-week high of $28.22. Westlake Chemical stock has been showing support around 25.76 and resistance in the 27.92 range. Technical indicators for the stock are Bullish and S&P gives WLK a neutral 3 STAR (out of 5) hold rating. WLK appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (WLK DE) for a net debit in the $22.99 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 14.82% downside protection and an 8.74% assigned return rate for a 21.56% annualized return rate (comparison purposes only). Westlake Chemical has a current annual dividend yield of 0.83%. [FBB-Seven Summits Research]
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