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Reliance Steel and Aluminum (RS) Trading Near $47.16 Resistance Level
Edited by : AL CIRCLE
1 min read
Reliance Steel & Aluminum Co (NYSE: RS) closed Monday's trading session at $45.24. In the past year, the stock has hit a 52-week low of $31.09 and 52-week high of $60.60.
Reliance Steel and Aluminum (RS) stock has been showing support around $43.48 and resistance in the $47.16 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 Mar '12 $45.00 covered call for a net debit in the $40.24 area. That is also the break-even stock price for this trade. This covered call has a duration of 130 days, provides 11.05% downside protection and an assigned return rate of 11.83% for an annualized return rate of 33.21% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 1.07%.
Reliance Steel and Aluminum (RS) stock has been showing support around $43.48 and resistance in the $47.16 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 Mar '12 $45.00 covered call for a net debit in the $40.24 area. That is also the break-even stock price for this trade. This covered call has a duration of 130 days, provides 11.05% downside protection and an assigned return rate of 11.83% for an annualized return rate of 33.21% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 1.07%.
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