Verizon Communications (NYSE: VZ) closed yesterday at $32.03. So far the stock has hit a 52-week low of $30.48 and 52-week high of $46.24. Verizon Communications stock has been showing support around 30.76 and resistance in the 33.94 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 a Jan '09 32.50 covered call (VZ AZ) for a net debit in the $30.05 area. That is also the break even stock price for this trade. This covered call has an 116 day duration, provides 6.18% downside protection and an 8.15% assigned retu...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)