ITT (ITT) 11/6/09 PriceWatch Alert Down To $48.15 Break Even

Posted: Friday, November 06, 2009 8:45 AM EDT

ITT (NYSE: ITT) closed yesterday at $51.85. 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 50.78 and resistance in the 52.94 range. Technical indicators for the stock are Neutral 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 $48.15 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 7.14% downside protection and a 3.84% assigned return rate for a 19.75% annualized return rate (comparison purposes only). ITT has a current annual dividend yield of 1.66%. [FBB-Seven Summits Research]

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