Diana Shipping (DSX) PriceWatch Alert Technicals Showing Bearish

Posted: Monday, June 29, 2009 8:07 AM EDT

Diana Shipping (NYSE: DSX) ended the last trading session at $13.82. So far the stock has hit a 52-week low of $6.85 and 52-week high of $32.72. Diana Shipping stock has been showing support around 13.21 and resistance in the 14.29 range. Technical indicators for the stock are Bearish. DSX appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 10 covered call (DSX LB) for a net debit in the $9.12 area. That is also the break even stock price for this trade. This covered call has a 173 day duration, provides 34.01% downside protection and a 9.65% assigned return rate for a 20.36% annualized return rate (comparison purposes only). Diana Shipping has a current annual dividend yield of 13.52%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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