EQT Corporation (EQT) 11/6/09 PriceWatch Alert Bullish Price Movement

Posted: Friday, November 06, 2009 8:44 AM EDT

EQT Corporation (NYSE: EQT) closed yesterday at $42.53. So far the stock has hit a 52-week low of $24.73 and 52-week high of $46.80. EQT Corporation stock has been showing support around 41.32 and resistance in the 43.14 range. Technical indicators for the stock are Bullish and S&P gives EQT a neutral 3 STAR (out of 5) hold rating. EQT appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 40 covered call (EQT AH) for a net debit in the $38.73 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 8.93% downside protection and a 3.28% assigned return rate for a 16.86% annualized return rate (comparison purposes only). EQT Corporation has a current annual dividend yield of 2.10%. [FBB-Seven Summits Research]

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