Edison International (EIX) 11/25/09 PriceWatch Alert Technicals Showing Bullish

Posted: Wednesday, November 25, 2009 8:23 AM EDT

Edison International (NYSE: EIX) closed yesterday at $34.09. So far the stock has hit a 52-week low of $23.09 and 52-week high of $35.20. Edison International stock has been showing support around 33.56 and resistance in the 34.42 range. Technical indicators for the stock are Bullish and S&P gives EIX a positive 4 STAR (out of 5) buy rating. EIX appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 35 covered call (EIX DG) for a net debit in the $32.84 area. That is also the break even stock price for this trade. This covered call has a 143 day duration, provides 3.67% downside protection and a 6.58% assigned return rate for a 16.79% annualized return rate (comparison purposes only). Edison International has a current annual dividend yield of 3.75%. [WBA-Seven Summits Research]

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