Washington Federal (WFSL) NewsBite - Washington Federal Up on WFC Earnings

Wednesday, July 16, 2008 10:18 AM EDT

Washington Federal Inc. (WFSL) opened at 13.80. So far today, the stock has hit a low of 13.80 and a high of 14.45. WFSL is now trading at 14.31, up 0.68 (4.93%). The stock hit its 52 week high of 27.44 in September and set its 52 week low of 13.17 in July. WFSL has been slipping for most of the past year. Washington Federal shares have been rallying with other financial stocks lifted by Wells Fargo (WFC) which posted better-than-expected second-quarter earnings, and raised its quarterly dividend by 10 percent. Technical indicators for the stock are bearish and steady. If you are looking for a hedged play on this stock, consider an August covered call at the $15 level. That stock would have to drop by more than 6.9% before we would start to lose money. [RHF - Seven Summits Strategic Investments NewsBite]

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