FPL Group (FPL) 3/3/10 PriceWatch Alert Targets 6.78% Downside Protection
Posted: Wednesday, March 03, 2010 8:39 AM EDT
By: Market Intelligence Center Staff
FPL Group (NYSE: FPL) closed yesterday at $47.19. So far the stock has hit a 52-week low of $41.48 and 52-week high of $60.61. FPL Group stock has been showing support around 46.64 and resistance in the 48.28 range. Technical indicators for the stock are Bearish and S&P gives FPL a neutral 3 STAR (out of 5) hold rating. FPL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jun '10 45 covered call for a net debit in the $43.99 area. That is also the break even stock price for this trade. This covered call has a 108 day duration, provides 6.78% downside protection and a 2.30% assigned return rate for a 7.76% annualized return rate (comparison purposes only). FPL Group has a current annual dividend yield of 4.31%. [WBA-Seven Summits Research]
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