Airgas (ARG) Flat Yesterday And The Stock Has Been Showing Bearish Technicals

Airgas (NYSE: ARG) closed yesterday at $46.02. So far the stock has hit a 52-week low of $26.29 and 52-week high of $51.00. Airgas stock has been showing support around 44.51 and resistance in the 47.49 range. Technical indicators for the stock are Bearish and S&P gives ARG a neutral 3 STAR (out of 5) hold rating. ARG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 45 covered call (ARG LI) for a net debit in the $43.42 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 5.65% downside protection and a 3.64% assigned return rate for a 26.56% annualized return rate (comparison purposes only). Airgas has a current annual dividend yield of 1.49%.

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