Public Storage (PSA) 11/13/09 PriceWatch Alert With 10.41% Downside Protection
Posted: Friday, November 13, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $78.79. So far the stock has hit a 52-week low of $45.35 and 52-week high of $80.58. Public Storage stock has been showing support around 77.47 and resistance in the 80.87 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 $70.59 area. That is also the break even stock price for this trade. This covered call has a 127 day duration, provides 10.41% downside protection and a 6.25% assigned return rate for a 17.95% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.80%. [FBB-Seven Summits Research]
CLICK HERE: FREE Public Storage (PSA) Stock ReportSee what our analysts have uncovered about Public Storage (PSA).