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Century Aluminum (CENX) Showing Bearish Technicals But Could Break Through $13.07 Resistance
Edited by : AL CIRCLE
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Century Aluminum (NASDAQ:CENX) closed Tuesday's deflating trading session at $11.97. In the past year, the stock has hit a 52-week low of $9.28 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $11.37 and resistance in the $13.07 range. Technical indicators for the stock are Bearish. For a hedged play on Century Aluminum (CENX), look at the Jan '12 $10.00 covered call for a net debit in the $9.12 area. That is also the break-even stock price for this trade. This covered call has a duration of 171 days, provides 23.81% downside protection and an assigned return rate of 9.65% for an annualized return rate of 20.60% (for comparison purposes only). Century Aluminum (CENX) does not pay dividends at this time.
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