Pacific Gas and Electric (PCG) 11/3/09 PriceWatch Alert Support Down To $40.07

Posted: Tuesday, November 03, 2009 8:38 AM EDT

Pacific Gas and Electric (NYSE: PCG) closed yesterday at $41.24. So far the stock has hit a 52-week low of $33.57 and 52-week high of $43.21. Pacific Gas and Electric stock has been showing support around 40.07 and resistance in the 41.89 range. Technical indicators for the stock are Bullish and S&P gives PCG a neutral 3 STAR (out of 5) hold rating. PCG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 40 covered call (PCG CH) for a net debit in the $38.79 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 5.94% downside protection and a 3.12% assigned return rate for an 8.31% annualized return rate (comparison purposes only). Pacific Gas and Electric has a current annual dividend yield of 4.06%. [ATU-Seven Summits Research]

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