Great Plains Energy (GXP) 12/22/09 PriceWatch Alert Shows Bullish Technicals
Posted: Tuesday, December 22, 2009 8:12 AM EDT
By: Market Intelligence Center Staff
Great Plains Energy (NYSE: GXP) closed yesterday at $20.16. So far the stock has hit a 52-week low of $10.20 and 52-week high of $20.52. Great Plains Energy stock has been showing support around 19.70 and resistance in the 20.52 range. Technical indicators for the stock are Bullish and S&P gives GXP a neutral 3 STAR (out of 5) hold rating. GXP appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jun '10 20 covered call for a net debit in the $19.06 area. That is also the break even stock price for this trade. This covered call has a 179 day duration, provides 5.46% downside protection and a 4.93% assigned return rate for a 10.06% annualized return rate (comparison purposes only). Great Plains Energy has a current annual dividend yield of 4.25%. [ATU-Seven Summits Research]
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