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Aluminum Corporation of China (ACH) PriceWatch Alert Support Down To $25.18
- China Aluminium Network
- Post Time: 2009/6/9
- Click Amount: 481
Aluminum Corporation of China (NYSE: ACH) ended the last trading session at $26.35. So far the stock has hit a 52-week low of $7.22 and 52-week high of $41.23. Aluminum Corporation of China stock has been showing support around 25.18 and resistance in the 28.04 range. Technical indicators for the stock are Bullish and S&P gives ACH a neutral 3 STAR (out of 5) hold rating. ACH appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 20 covered call (LCF AD) for a net debit in the $17.85 area. That is also the break even stock price for this trade. This covered call has a 222 day duration, provides 32.26% downside protection and a 12.04% assigned return rate for a 19.80% 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 ACH Jan '10 15 Call (LCF AC) and selling the Jan '10 20 call (LCF AD) for a $3.90 debit. The trade has a 222 day life and would provide 28.27% downside protection and a 28.21% assigned return rate for a 46.00% annualized return rate (for comparison purposes only). Aluminum Corporation of China has a current annual dividend yield of 0.59%.
Source: www.marketintelligencecenter.com
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