Medicis Pharmaceutical Corp (NYSE: MRX) closed Thursday's trading session at $27.98. In the past year, the stock has hit a 52-week low of $21.02 and 52-week high of $30.94. Medicis Pharmaceutical stock has been showing support around $27.55 and resistance in the $28.35 range. Technical indicators for the stock are Bearish and S&P gives MRX a positive 4 STARS (out of 5) buy rating. For a hedged play on this stock, look at the Jul '11 $25.00 covered call for a net debit in the $23.88 area. That is also the break-even stock price for this trade. This covered call has a duration of 201 days, provides 14.65% downside protection and an assigned return rate of 4.69% for an annualized return rate of 8.52% (for comparison purposes only). Medicis Pharmaceutical has a current annual dividend yield of 0.86%. [ATU-Seven Summits Research]
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