TransCanada Corp. (TRP) PriceWatch Alert for November 17, 2009
Posted: Tuesday, November 17, 2009 8:17 AM EDT
By: Market Intelligence Center Staff
TransCanada Corp. (NYSE: TRP) closed yesterday at $30.78. So far the stock has hit a 52-week low of $22.24 and 52-week high of $32.90. TransCanada stock has been showing support around 30.43 and resistance in the 31.13 range. Technical indicators for the stock are Bearish and S&P gives TRP a neutral 3 STAR (out of 5) hold rating. TRP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a May '10 30 covered call (TRP EF) for a net debit in the $29.08 area. That is also the break even stock price for this trade. This covered call has an 186 day duration, provides 5.52% downside protection and a 3.16% assigned return rate for a 6.21% annualized return rate (comparison purposes only). TransCanada has a current annual dividend yield of 4.50%. [ATU-Seven Summits Research]
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