ITT (ITT) Up Yesterday And Stock Has Very Positive 5 STARs S&P Rating

Posted: Tuesday, November 03, 2009 9:13 AM EDT

ITT (NYSE: ITT) closed yesterday at $50.99. So far the stock has hit a 52-week low of $31.94 and 52-week high of $56.95. ITT stock has been showing support around 49.44 and resistance in the 52.06 range. Technical indicators for the stock are Bearish and S&P gives ITT a very positive 5 STAR (out of 5) strong buy rating. ITT appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 50 covered call (ITT AJ) for a net debit in the $47.99 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 5.88% downside protection and a 4.19% assigned return rate for a 20.66% annualized return rate (comparison purposes only). ITT has a current annual dividend yield of 1.56%. [ATU-Seven Summits Research]

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