Author：Site  Source：Network  Click to rate：2387  Post time：2012-01-13

       Reliance Steel and Aluminum (NYSE:RS) closed Wednesday's quiet trading session at $53.87. In the past year, the stock has hit a 52-week low of $31.09 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $52.87 and resistance in the $54.57 range. Technical indicators for the stock are Bullish and S&P gives Reliance Steel and Aluminum (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminum (RS), look at the Mar '12 $50.00 covered call for a net debit in the $47.97 area. That is also the break-even stock price for this trade. This covered call has a duration of 65 days, provides 10.95% downside protection and an assigned return rate of 4.23% for an annualized return rate of 23.76% (for comparison purposes only). Reliance Steel and Aluminum (RS) has a current annual dividend yield of 0.91%.