Scotts Miracle Gro (SMG) 11/13/09 PriceWatch Alert Bearish Price Movement
Posted: Friday, November 13, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
Scotts Miracle Gro (NYSE: SMG) closed yesterday at $41.91. So far the stock has hit a 52-week low of $24.17 and 52-week high of $44.25. Scotts Miracle Gro stock has been showing support around 40.93 and resistance in the 43.39 range. Technical indicators for the stock are Bearish 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 Jan '10 40 covered call (SMG AH) for a net debit in the $38.91 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 7.16% downside protection and a 2.80% assigned return rate for a 15.98% annualized return rate (comparison purposes only). Scotts Miracle Gro has a current annual dividend yield of 1.16%. [FBB-Seven Summits Research]
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