TransCanada Corp. (TRP) 11/3/09 PriceWatch Alert At $28.92 Break Even
Posted: Tuesday, November 03, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
TransCanada Corp. (NYSE: TRP) closed yesterday at $30.37. So far the stock has hit a 52-week low of $22.24 and 52-week high of $32.90. TransCanada stock has been showing support around 29.80 and resistance in the 31.06 range. Technical indicators for the stock are Bearish and S&P gives TRP a neutral 3 STAR (out of 5) hold rating. TRP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a May '10 30 covered call (TRP EF) for a net debit in the $28.92 area. That is also the break even stock price for this trade. This covered call has a 200 day duration, provides 4.77% downside protection and a 3.73% assigned return rate for a 6.82% annualized return rate (comparison purposes only). TransCanada has a current annual dividend yield of 4.55%. [ATU-Seven Summits Research]
CLICK HERE: FREE TransCanada (TRP) Stock ReportSee what our analysts have uncovered about TransCanada (TRP).