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Feb 11, 2013 (Marketintelligencecenter.com via COMTEX) -- National Oilwell Varco Inc (NYSE:NOV) closed Friday's trading session at $69.08. In the past year, the stock has hit a 52-week low of $59.07 and 52-week high of $89.95. National Oilwell Varco (NOV) stock has been showing support around $67.94 and resistance in the $69.84 range. Technical indicators for the stock are Bearish and S&P gives National Oilwell Varco (NOV) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on National Oilwell Varco (NOV), look at the May '13 $72.50 covered call for a net debit in the $66.69 area. That is also the break-even stock price for this trade. This covered call has a duration of 96 days, provides 3.46% downside protection and an assigned return rate of 8.71% for an annualized return rate of 33.12% (for comparison purposes only). A lower-cost hedged play for National Oilwell Varco (NOV) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the National Oilwell Varco (NOV) Jan '14 $52.50 call and selling the May '13 $72.50 call for a total debit of $16.36. The trade has a lifespan of 96 days and would provide 0.32% downside protection and an assigned return rate of 22.25% for an annualized return rate of 85% (for comparison purposes only). National Oilwell Varco (NOV) has a current annual dividend yield of 0.78%.
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As of Thursday, 02-07-2013 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated an UPTREND on
05-29-2012 for NOV @ $69.49.
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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