ITC Holdings (ITC) 11/20/09 PriceWatch Alert Up To 16.24% Return
Posted: Friday, November 20, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
ITC Holdings (NYSE: ITC) closed yesterday at $45.53. So far the stock has hit a 52-week low of $32.26 and 52-week high of $48.69. ITC stock has been showing support around 44.78 and resistance in the 46.54 range. Technical indicators for the stock are Bearish and S&P gives ITC a positive 4 STAR (out of 5) buy rating. ITC appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 45 covered call (ITC BI) for a net debit in the $43.23 area. That is also the break even stock price for this trade. This covered call has a 92 day duration, provides 5.05% downside protection and a 4.09% assigned return rate for a 16.24% annualized return rate (comparison purposes only). ITC has a current annual dividend yield of 2.77%. [FBB-Seven Summits Research]
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