Total (TOT) PriceWatch Alert Support Down To $73.41

Posted on Friday, July 18, 2008 8:07 AM

Total (NYSE: TOT) closed yesterday at $74.78. So far the stock has hit a 52-week low of $67.11 and 52-week high of $91.34. Total stock has been showing support around 73.41 and resistance in the 76.61 range. Technical indicators for the stock are Bearish and S&P gives TOT a positive 4 STAR (out of 5) buy rating. TOT appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Nov '08 75 covered call (TOT KO) for a net debit in the $69.38 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 7.22% downside protection and an 8.10% assigned return rate for a 23.28% annualized return rate (comparison purposes only). Total does not pay dividends at this time. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]