China Petroleum and Chemcial (SNP.) closed Friday's unfavorable trading session at $95.48. In the past year, the stock has hit a 52-week low of $80.29 and 52-week high of $111.92. China Petroleum and Chemcial (SNP) stock has been showing support around $94.19 and resistance in the $96.97 range. Technical indicators for the stock are Bullish. For a hedged play on China Petroleum and Chemcial (SNP), look at the Jan '12 $95.00 covered call for a net debit in the $88.58 area. That is also the break-even stock price for this trade. This covered call has a duration of 137 days, provides 7.23% downside protection and an assigned return rate of 7.25% for an annualized return rate of 19.31% (for comparison purposes only). China Petroleum and Chemcial (SNP) has a current annual dividend yield of 2.86%.