Verizon Communications (NYSE: VZ) closed yesterday at $34.74. 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 33.98 and resistance in the 35.76 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 $33.43 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 3.77% downside protection and a 4.70% assigned retu...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)