Scotts Miracle Gro (SMG) 11/6/09 PriceWatch Alert Bullish Price Movement
Posted: Friday, November 06, 2009 8:37 AM EDT
By: Market Intelligence Center Staff
Scotts Miracle Gro (NYSE: SMG) closed yesterday at $42.97. So far the stock has hit a 52-week low of $23.64 and 52-week high of $44.25. Scotts Miracle Gro stock has been showing support around 41.65 and resistance in the 44.03 range. Technical indicators for the stock are Bullish and S&P gives SMG a neutral 3 STAR (out of 5) hold rating. SMG appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 40 covered call (SMG CH) for a net debit in the $38.07 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 11.40% downside protection and a 5.07% assigned return rate for a 13.81% annualized return rate (comparison purposes only). Scotts Miracle Gro has a current annual dividend yield of 1.19%. [FBB-Seven Summits Research]
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