Air Products and Chemicals (APD) Picked Up 3% Yesterday And Trading With Bullish Technicals

Air Products and Chemicals (NYSE: APD) closed yesterday at $80.08. So far the stock has hit a 52-week low of $41.46 and 52-week high of $84.43. Air Products and Chemicals stock has been showing support around 77.81 and resistance in the 81.25 range. Technical indicators for the stock are Bullish and S&P gives APD a neutral 3 STAR (out of 5) hold rating. APD appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Dec '09 80 covered call (APD LP) for a net debit in the $76.88 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 4.00% downside protection and a 4.06% assigned return rate for a 29.63% annualized return rate (comparison purposes only). Air Products and Chemicals has a current annual dividend yield of 2.23%.

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