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Reliance Steel and Aluminum (RS) Showing Resistance Near $51.08 With 0.95% Dividend Yield
Edited by : AL CIRCLE
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Reliance Steel and Aluminum (NYSE:RS) closed Monday's downbeat trading session at $50.31. In the past year, the stock has hit a 52-week low of $34.58 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $49.38 and resistance in the $51.08 range. Technical indicators for the stock are Bullish and S&P gives Reliance Steel and Aluminum (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminum (RS), look at the Sep '11 $50.00 covered call for a net debit in the $47.81 area. That is also the break-even stock price for this trade. This covered call has a duration of 53 days, provides 4.97% downside protection and an assigned return rate of 4.58% for an annualized return rate of 31.55% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 0.95%.
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