Dow Chemical (NYSE: DOW) closed yesterday at $34.05. So far the stock has hit a 52-week low of $30.84 and 52-week high of $47.43. Dow Chemical stock has been showing support around 33.50 and resistance in the 34.44 range. Technical indicators for the stock are Bearish and S&P gives DOW a positive 4 STAR (out of 5) buy rating. DOW appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '09 30 covered call (DOW CF) for a net debit in the $28.75 area. That is also the break even stock price for this trade. This covered call has a 211 day duration, provides 15.57% downside protection and a 4.35% assigned return ra...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)