Public Storage (PSA) 11/10/09 PriceWatch Alert At $70.55 Break Even

Posted: Tuesday, November 10, 2009 8:46 AM EDT

Public Storage (NYSE: PSA) closed yesterday at $79.15. So far the stock has hit a 52-week low of $45.35 and 52-week high of $80.57. Public Storage stock has been showing support around 75.60 and resistance in the 81.08 range. Technical indicators for the stock are Bullish and S&P gives PSA a neutral 3 STAR (out of 5) hold rating. PSA appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 75 covered call (PSA CO) for a net debit in the $70.55 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 10.87% downside protection and a 6.31% assigned return rate for a 17.71% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.87%. [ATU-Seven Summits Research]

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