Alaska Air Group (ALK) Rose Over 4% Yesterday And Stock Showing Bullish Technicals

Alaska Air Group (NYSE: ALK) closed yesterday at $26.53. So far the stock has hit a 52-week low of $13.61 and 52-week high of $30.95. Alaska Air Group stock has been showing support around 24.94 and resistance in the 27.34 range. Technical indicators for the stock are Bullish and S&P gives ALK a neutral 3 STAR (out of 5) hold rating. ALK appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 25 covered call (ALK DE) for a net debit in the $22.43 area. That is also the break even stock price for this trade. This covered call has a 162 day duration, provides 15.45% downside protection and an 11.46% assigned return rate for a 25.82% annualized return rate (comparison purposes only). Alaska Air Group does not pay dividends at this time.

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