Celanese (NYSE: CE) closed yesterday at $27.24. So far the stock has hit a 52-week low of $5.71 and 52-week high of $39.87. Celanese stock has been showing support around 26.65 and resistance in the 27.73 range. Technical indicators for the stock are Bullish and S&P gives CE a weak 2 STAR (out of 5) sell rating. CE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Dec '09 25 covered call (CE LE) for a net debit in the $23.14 area. That is also the break even stock price for this trade.
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This covered call has a 129 day duration, provides 15.05% downside protection and an 8.04% assigned return rate for a 22.74% annualized return rate. Celanese has a current annual dividend yield of 0.58%.
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