Posted: Thursday, May 17, 2012 8:06 AM EDT
By: Market Intelligence Center Staff
International Business Machines (NYSE:IBM) closed Wednesday's wandering trading session at $199.73. In the past year, the stock has hit a 52-week low of $157.13 and 52-week high of $210.69. International Business Machines (IBM) stock has been showing support around $196.58 and resistance in the $202.92 range. Technical indicators for the stock are Bearish and S&P gives International Business Machines (IBM) a positive 4 STARS (out of 5) buy rating. For a hedged play on International Business Machines (IBM), look at the Jul '12 $210.00 covered call for a net debit in the $197.08 area. That is also the break-even stock price for this trade. This covered call has a duration of 65 days, provides 1.33% downside protection and an assigned return rate of 6.56% for an annualized return rate of 36.81% (for comparison purposes only). A lower-cost hedged play for International Business Machines (IBM) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the International Business Machines (IBM) Jan '13 $175.00 call and selling the Jul '12 $210.00 call for a total debit of $28.10. The trade has a lifespan of 65 days and would provide -1.69% downside protection and an assigned return rate of 24.56% for an annualized return rate of 138% (for comparison purposes only). International Business Machines (IBM) has a current annual dividend yield of 1.70%. [MarketIntelligenceCenter.com]
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