Verizon Communications (NYSE: VZ) ended the last trading session at $34.96. So far the stock has hit a 52-week low of $33.15 and 52-week high of $46.24. Verizon Communications stock has been showing support around 34.42 and resistance in the 35.52 range. Technical indicators for the stock are Bearish and S&P gives VZ a positive 4 STAR (out of 5) buy rating. VZ appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at an Oct '08 35 covered call (VZ JG) for a net debit in the $33.54 area. That is also the break even stock price for this trade. This covered call has a 61 day duration, provides 4.06% downside protection and a 4.35% assig...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)