Tech Data (TECD) Down Over 2.5% On Heavy Volume
Posted: Friday, November 20, 2009 9:17 AM EDT
By: Market Intelligence Center Staff
Tech Data (NasdaqNM: TECD) closed yesterday at $41.51. So far the stock has hit a 52-week low of $14.14 and 52-week high of $44.63. Tech Data stock has been showing support around 40.56 and resistance in the 43.06 range. Technical indicators for the stock are Bullish and S&P gives TECD a neutral 3 STAR (out of 5) hold rating. TECD appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 40 covered call (TDQ AH) for a net debit in the $38.51 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 7.23% downside protection and a 3.87% assigned return rate for a 24.78% annualized return rate (comparison purposes only). Tech Data does not pay dividends at this time. [FBB-Seven Summits Research]
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