Energy Transfer Partners LP (ETP) 11/6/09 PriceWatch Alert With $42.45 Break Even

Posted: Friday, November 06, 2009 8:33 AM EDT

Energy Transfer Partners LP (NYSE: ETP) closed yesterday at $43.95. So far the stock has hit a 52-week low of $26.11 and 52-week high of $47.44. Energy Transfer Partners LP stock has been showing support around 43.06 and resistance in the 44.44 range. Technical indicators for the stock are Bullish and S&P gives ETP a positive 4 STAR (out of 5) buy rating. ETP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 45 covered call (ETP CI) for a net debit in the $42.45 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 3.41% downside protection and a 6.01% assigned return rate for a 16.36% annualized return rate (comparison purposes only). Energy Transfer Partners LP has a current annual dividend yield of 8.18%. [FBB-Seven Summits Research]

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