Energizer Holdings (ENR) 11/6/09 PriceWatch Alert With 6.78% Downside Protection

Posted: Friday, November 06, 2009 8:16 AM EDT

Energizer Holdings (NYSE: ENR) closed yesterday at $56.05. So far the stock has hit a 52-week low of $30.36 and 52-week high of $69.11. Energizer stock has been showing support around 53.50 and resistance in the 57.40 range. Technical indicators for the stock are Bearish and S&P gives ENR a neutral 3 STAR (out of 5) hold rating. ENR appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 55 covered call (ENR BK) for a net debit in the $52.25 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 6.78% downside protection and a 5.26% assigned return rate for an 18.12% annualized return rate (comparison purposes only). Energizer does not pay dividends at this time. [FBB-Seven Summits Research]

Click Symbol For More News On: (ENR)