Eaton Vance (EV) 11/6/09 PriceWatch Alert Targets 17.71% Downside Protection
Posted: Friday, November 06, 2009 8:25 AM EDT
By: Market Intelligence Center Staff
Eaton Vance (NYSE: EV) closed yesterday at $28.80. So far the stock has hit a 52-week low of $11.86 and 52-week high of $31.31. Eaton Vance stock has been showing support around 28.05 and resistance in the 29.19 range. Technical indicators for the stock are Bullish and S&P gives EV a weak 2 STAR (out of 5) sell rating. EV appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a May '10 25 covered call (EV EE) for a net debit in the $23.70 area. That is also the break even stock price for this trade. This covered call has a 197 day duration, provides 17.71% downside protection and a 5.49% assigned return rate for a 10.16% annualized return rate (comparison purposes only). Eaton Vance has a current annual dividend yield of 2.25%. [FBB-Seven Summits Research]
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