May 13, 2013 (Marketintelligencecenter.com via COMTEX) -- Perrigo (NASDAQ:PRGO) closed Friday's trading session at $119.64. In the past year, the stock has hit a 52-week low of $98.25 and 52-week high of $121.12. Perrigo (PRGO) stock has been showing support around $116.49 and resistance in the $121.29 range. Technical indicators for the stock are Bullish and S&P gives Perrigo (PRGO) a neutral 3 STARS (out of 5) hold rating. For a hedged play on Perrigo (PRGO), look at the Aug '13 $115.00 covered call for a net debit in the $112.74 area. That is also the break-even stock price for this trade. This covered call has a duration of 96 days, provides 5.77% downside protection and an assigned return rate of 2.00% for an annualized return rate of 7.62% (for comparison purposes only). Perrigo (PRGO) has a current annual dividend yield of 0.30%.

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