Diana Shipping (DSX) PriceWatch Alert for November 2, 2009

Posted: Monday, November 02, 2009 8:34 AM EDT

Diana Shipping (NYSE: DSX) ended the last trading session at $12.92. So far the stock has hit a 52-week low of $6.85 and 52-week high of $19.00. Diana Shipping stock has been showing support around 12.36 and resistance in the 13.68 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 Jun '10 10 covered call (DSX FB) 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 229 day duration, provides 29.41% downside protection and a 9.65% assigned return rate for a 15.38% annualized return rate (comparison purposes only). Diana Shipping has a current annual dividend yield of 7.32%. [ABR-Seven Summits Research]

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