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Century Aluminum (CENX) Could Break Through $16.34 Resistance Level
Edited by : AL CIRCLE
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Century Aluminum (NASDAQ:CENX) closed Friday's downbeat trading session at $15.81. In the past year, the stock has hit a 52-week low of $8.70 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $15.24 and resistance in the $16.34 range. Technical indicators for the stock are Bullish. For a hedged play on Century Aluminum (CENX), look at the Dec '11 $14.00 covered call for a net debit in the $12.85 area. That is also the break-even stock price for this trade. This covered call has a duration of 159 days, provides 18.72% downside protection and an assigned return rate of 8.95% for an annualized return rate of 20.54% (for comparison purposes only). Century Aluminum (CENX) does not pay dividends at this time. [ATU-Seven Summits Research]
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