Public Storage (PSA) 11/20/09 PriceWatch Alert With $70.87 Break Even
Posted: Friday, November 20, 2009 8:19 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $78.97. So far the stock has hit a 52-week low of $45.35 and 52-week high of $82.02. Public Storage stock has been showing support around 78.19 and resistance in the 80.47 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 $70.87 area. That is also the break even stock price for this trade. This covered call has a 120 day duration, provides 10.26% downside protection and a 5.83% assigned return rate for a 17.73% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.75%. [FBB-Seven Summits Research]
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