GSI Commerce (GSIC) Showing Bearish Technicals Risk of Fall Through $22.57 Support

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GSI Commerce (NASDAQ: GSIC) closed Tuesday's trading session at $23.12. In the past year, the stock has hit a 52-week low of $20.87 and 52-week high of $31.35. GSI Commerce stock has been showing support around $22.57 and resistance in the $23.55 range. Technical indicators for the stock are Bearish. For a hedged play on this stock, look at the Apr '11 $20.00 covered call for a net debit in the $19.12 area. That is also the break-even stock price for this trade. This covered call has a duration of 115 days, provides 17.30% downside protection and an assigned return rate of 4.60% for an annualized return rate of 14.61% (for comparison purposes only). GSI Commerce does not pay dividends at this time. [ABR-Seven Summits Research]

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