Isra-Mart srl: Platinum Underwriters (PTP) Could Break Through $31.10 Resistance Level

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Platinum Underwriters (NYSE:PTP) closed Friday's deflating trading session at $29.91. In the past year, the stock has hit a 52-week low of $28.05 and 52-week high of $46.42. Platinum Underwriters (PTP) stock has been showing support around $29.30 and resistance in the $31.10 range. Technical indicators for the stock are Bearish and S&P gives Platinum Underwriters (PTP) a neutral 3 STARS (out of 5) hold rating. For a hedged play on Platinum Underwriters (PTP), look at the Jan '12 $30.00 covered call for a net debit in the $27.96 area. That is also the break-even stock price for this trade. This covered call has a duration of 137 days, provides 6.52% downside protection and an assigned return rate of 7.30% for an annualized return rate of 19.44% (for comparison purposes only). Platinum Underwriters (PTP) has a current annual dividend yield of 1.02%