Edison International (EIX) 12/2/09 PriceWatch Alert With Support Around $34.13
Posted: Wednesday, December 02, 2009 8:24 AM EDT
Edison International (NYSE: EIX) closed yesterday at $34.60. 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 34.13 and resistance in the 34.87 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 $33.05 area. That is also the break even stock price for this trade. This covered call has a 136 day duration, provides 4.48% downside protection and a 5.90% assigned return rate for a 15.83% annualized return rate (comparison purposes only). Edison International has a current annual dividend yield of 3.67%. [WBA-Seven Summits Research]
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