Endo Pharmaceuticals (ENDP) Trading On Heavy Volume

Posted: Friday, November 20, 2009 9:21 AM EDT

Endo Pharmaceuticals (NasdaqNM: ENDP) closed yesterday at $22.33. So far the stock has hit a 52-week low of $15.75 and 52-week high of $26.14. Endo Pharmaceuticals stock has been showing support around 22.01 and resistance in the 22.83 range. Technical indicators for the stock are Bearish and S&P gives ENDP a neutral 3 STAR (out of 5) hold rating. ENDP appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 22.50 covered call (IUK DX) for a net debit in the $20.68 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 7.39% downside protection and an 8.80% assigned return rate for a 21.70% annualized return rate (comparison purposes only). Endo Pharmaceuticals does not pay dividends at this time. [FBB-Seven Summits Research]

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