China Petroleum and Chemcial (SNP) Could Break Through $104.07 Resistance

China Petroleum & Chemical Corp. closed Tuesday's trading session at $102.50. 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 stock has been showing support around $101.41 and resistance in the $104.07 range. Technical indicators for the stock are Bullish.

For a hedged play on China Petroleum and Chemcial (SNP), look at the Jan '12 $100.00 covered call for a net debit in the $95.50 area. That is also the break-even stock price for this trade. This covered call has a duration of 59 days, provides 6.83% downside protection and an assigned return rate of 4.71% for an annualized return rate of 29.15% (for comparison purposes only).

China Petroleum and Chemcial (SNP) has a current annual dividend yield of 3.10%.

(marketintelligencecenter.com, Edited by Topco)