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Aluminum Corporation of China (ACH) PriceWatch Alert With 17.23% Downside Protection
- China Aluminium Network
- Post Time: 2009/8/5
- Click Amount: 510
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Aluminum Corporation of China (NYSE: ACH) closed yesterday at $31.93. So far the stock has hit a 52-week low of $7.22 and 52-week high of $32.00. Aluminum Corporation of China stock has been showing support around 30.70 and resistance in the 32.62 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 30 covered call (ACH AF) for a net debit in the $26.43 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 17.23% downside protection and a 13.51% assigned return rate for a 29.88% 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 '11 12.50 Call (ZFY AV) and selling the Jan '10 30 call (ACH AF) for a $14.60 debit. The trade has a 165 day life and would provide 15.13% downside protection and a 19.86% assigned return rate for a 44.00% annualized return rate (for comparison purposes only). Aluminum Corporation of China has a current annual dividend yield of 0.53%.
Source: Market intelligence center.com
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