Edison International (EIX) 11/3/09 PriceWatch Alert Up To 5.49% Downside Protection
Posted: Tuesday, November 03, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
Edison International (NYSE: EIX) closed yesterday at $31.89. So far the stock has hit a 52-week low of $23.09 and 52-week high of $36.78. Edison International stock has been showing support around 31.10 and resistance in the 32.52 range. Technical indicators for the stock are Bearish and S&P gives EIX a positive 4 STAR (out of 5) buy rating. EIX appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 32.50 covered call (EIX DQ) for a net debit in the $30.14 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 5.49% downside protection and a 7.83% assigned return rate for a 17.32% annualized return rate (comparison purposes only). Edison International has a current annual dividend yield of 3.86%. [ATU-Seven Summits Research]
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