Edison International (EIX) 11/27/09 PriceWatch Alert Technicals Showing Bullish

Posted: Thursday, November 26, 2009 8:25 AM EDT

Edison International (NYSE: EIX) closed yesterday at $34.34. 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 33.90 and resistance in the 34.66 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 $32.99 area. That is also the break even stock price for this trade. This covered call has a 141 day duration, provides 3.93% downside protection and a 6.09% assigned return rate for a 15.77% annualized return rate (comparison purposes only). Edison International has a current annual dividend yield of 3.75%. [FBB-Seven Summits Research]

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