Public Storage (PSA) PriceWatch Alert Technicals Showing Bearish

Posted: Monday, July 06, 2009 8:07 AM EDT

Public Storage (NYSE: PSA) closed yesterday at $63.51. So far the stock has hit a 52-week low of $45.35 and 52-week high of $102.48. Public Storage stock has been showing support around 61.32 and resistance in the 67.32 range. Technical indicators for the stock are Bearish and S&P gives PSA a positive 4 STAR (out of 5) buy rating. PSA appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Sep '09 60 covered call (PSA IL) for a net debit in the $56.91 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 10.39% downside protection and a 5.43% assigned return rate for a 26.42% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 3.41%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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