Walt Disney ( NYSE: DIS ) closed yesterday at $30.85. So far the stock has hit a 52-week low of $26.30 and 52-week high of $36.79. Walt Disney stock has been showing support around 30.29 and resistance in the 31.49 range. Technical indicators for the stock are Bearish and S&P gives DIS a very positive 5 STAR (out of 5) strong buy rating. For a hedged play on this stock, look at an Oct '08 32.50 covered call (DIS JZ) for a net debit in the $29.05 area. That is also the break even stock price for this trade. This covered call has a 191 day duration, provides 5.83% downside protection and an 11.88% ...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)