Rochester, NY 7/15/2009 2:38:10 AM
SYMC - Symantec PriceWatch Alert At $13.56 Break Even
Symantec Corporation
Symantec Corporation, SYMC
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Symantec closed yesterday at $15.56. So far the stock has hit a 52-week low of $10.05 and 52-week high of $22.80. Symantec stock has been showing support around 14.96 and resistance in the 15.88 range. Technical indicators for the stock are Bearish and S&P gives SYMC a neutral 3 STAR (out of 5) hold rating. SYMC appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 15 covered call (SYQ AC) for a net debit in the $13.56 area. That is also the break even stock price for this trade. This covered call has an 186 day duration, provides 12.85% downside protection and a 10.62% assigned return rate for a 20.84% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the SYMC Jan '11 10 Call (OBL AB) and selling the Jan '10 15 call (SYQ AC) for a $4.45 debit. The trade has an 186 day life and would provide 7.13% downside protection and a 12.36% assigned return rate for a 24.00% annualized return rate (for comparison purposes only). Symantec does not pay dividends at this time
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