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Century Aluminum (CENX) Showing Bearish Technicals But Could Fall Through $12.80 Support
Edited by : AL CIRCLE
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Century Aluminum (NASDAQ:CENX) closed Thursday's directionless trading session at $13.70. 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 $12.80 and resistance in the $15.40 range. Technical indicators for the stock are Bearish. For a hedged play on Century Aluminum (CENX), look at the Dec '11 $12.00 covered call for a net debit in the $10.97 area. That is also the break-even stock price for this trade. This covered call has a duration of 155 days, provides 19.93% downside protection and an assigned return rate of 9.39% for an annualized return rate of 22.11% (for comparison purposes only). Century Aluminum (CENX) does not pay dividends at this time.
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