Pitney Bowes (PBI) 11/20/09 PriceWatch Alert Down To $21.59 Break Even
Posted: Friday, November 20, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
Pitney Bowes (NYSE: PBI) closed yesterday at $23.99. So far the stock has hit a 52-week low of $17.62 and 52-week high of $27.46. Pitney Bowes stock has been showing support around 23.59 and resistance in the 24.69 range. Technical indicators for the stock are Bearish and S&P gives PBI a positive 4 STAR (out of 5) buy rating. PBI appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 22.50 covered call (PBI DX) for a net debit in the $21.59 area. That is also the break even stock price for this trade. This covered call has a 148 day duration, provides 10.00% downside protection and a 4.21% assigned return rate for a 10.39% annualized return rate (comparison purposes only). Pitney Bowes has a current annual dividend yield of 5.74%. [FBB-Seven Summits Research]
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