China Petroleum and Chemcial Showing Support With 3.11% Dividend Yield

China Petroleum & Chemical Corp. closed Tuesday's trading session at $105.76. In the past year, the stock has hit a 52-week low of $82.50 and 52-week high of $111.92. China Petroleum and Chemcial (SNP) stock has been showing support around $104.25 and resistance in the $106.73 range. Technical indicators for the stock are Bullish. For a hedged play on China Petroleum and Chemcial (SNP), look at the Jan '12 $105.00 covered call for a net debit in the $99.76 area. That is also the break-even stock price for this trade. This covered call has a duration of 73 days, provides 5.67% downside protection and an assigned return rate of 5.25% for an annualized return rate of 26.26% (for comparison purposes only). China Petroleum and Chemcial (SNP) has a current annual dividend yield of 3.11%.
(marketintelligencecenter.com)