Jones Apparel Group (JNY) Showing Bullish Technicals And Neutral 3 STARs S&P Rating

Jones Apparel Group (NYSE: JNY) closed yesterday at $19.28. So far the stock has hit a 52-week low of $2.34 and 52-week high of $19.49. Jones Apparel stock has been showing support around 19.07 and resistance in the 19.55 range. Technical indicators for the stock are Bullish and S&P gives JNY a neutral 3 STAR (out of 5) hold rating. JNY appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a May '10 15 covered call (JNY EC) for a net debit in the $13.68 area. That is also the break even stock price for this trade. This covered call has a 218 day duration, provides 29.05% downside protection and a 9.65% assigned return rate for a 16.16% annualized return rate (comparison purposes only). Jones Apparel has a current annual dividend yield of 1.06%.

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