Myriad Genetics (MYGN) Could Break Through $27.41 Resistance Level

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Dec 18, 2012 ( via COMTEX) -- Myriad Genetics (NASDAQ:MYGN) closed Monday's trading session at $27.11. In the past year, the stock has hit a 52-week low of $19.85 and 52-week high of $31.80. Myriad Genetics (MYGN) stock has been showing support around $26.61 and resistance in the $27.41 range. Technical indicators for the stock are Bearish. For a hedged play on Myriad Genetics (MYGN), look at the May '13 $27.00 covered call for a net debit in the $24.36 area. That is also the break-even stock price for this trade. This covered call has a duration of 151 days, provides 10.14% downside protection and an assigned return rate of 10.84% for an annualized return rate of 26.20% (for comparison purposes only). Myriad Genetics (MYGN) has a current trailing average dividend yield of 0%.

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