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Jan 16, 2013 (Marketintelligencecenter.com via COMTEX) -- Chevron Corp (NYSE:CVX) closed Tuesday's trading session at $113.44. In the past year, the stock has hit a 52-week low of $95.73 and 52-week high of $118.53. Chevron (CVX) stock has been showing support around $111.70 and resistance in the $114.34 range. Technical indicators for the stock are Bullish and S&P gives Chevron (CVX) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Chevron (CVX), look at the Mar '13 $115.00 covered call for a net debit in the $111.91 area. That is also the break-even stock price for this trade. This covered call has a duration of 59 days, provides 1.35% downside protection and an assigned return rate of 2.76% for an annualized return rate of 17.08% (for comparison purposes only). A lower-cost hedged play for Chevron (CVX) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the Chevron (CVX) Jan '14 $90.00 call and selling the Mar '13 $115.00 call for a total debit of $22.42. The trade has a lifespan of 59 days and would provide 0.90% downside protection and an assigned return rate of 11.51% for an annualized return rate of 71% (for comparison purposes only). Chevron (CVX) has a current annual dividend yield of 3.22%.
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As of Saturday, 01-12-2013 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated an UPTREND on
06-07-2012 for CVX @ $101.09.
For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com
SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright A? 2004-2013 Comtex News Network, Inc. All rights reserved.
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