Century Aluminum (CENX) Showing Bullish Technicals With Resistance At $16.61

Century Aluminum (NASDAQ:CENX) closed Friday's winning trading session at $16.08. In the past year, the stock has hit a 52-week low of $8.39 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $15.09 and resistance in the $16.61 range. Technical indicators for the stock are Bullish. For a hedged play on Century Aluminum (CENX), look at the Jan '12 $15.00 covered call for a net debit in the $13.35 area. That is also the break-even stock price for this trade. This covered call has a duration of 200 days, provides 16.98% downside protection and an assigned return rate of 12.36% for an annualized return rate of 22.56% (for comparison purposes only). Century Aluminum (CENX) does not pay dividends at this time.