Scotts Miracle Gro (SMG) 11/11/09 PriceWatch Alert Support At Around $42.06
Posted: Wednesday, November 11, 2009 8:03 AM EDT
By: Market Intelligence Center Staff
Scotts Miracle Gro (NYSE: SMG) closed yesterday at $42.94. 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 42.06 and resistance in the 43.56 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 $38.04 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 11.41% downside protection and a 5.15% assigned return rate for a 14.58% annualized return rate (comparison purposes only). Scotts Miracle Gro has a current annual dividend yield of 1.17%. [WBA-Seven Summits Research]
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