Verizon Communications (NYSE: VZ) closed yesterday at $34.46. 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 33.61 and resistance in the 35.85 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 $33.38 area. That is also the break even stock price for this trade. This covered call has a 53 day duration, provides 3.13% downside protection and a 4.85% assigned retu...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)