PetSmart (NasdaqNM: PETM) closed yesterday at $26.31. So far the stock has hit a 52-week low of $13.27 and 52-week high of $26.85. PetSmart stock has been showing support around 25.43 and resistance in the 26.81 range. Technical indicators for the stock are Bullish and S&P gives PETM a neutral 3 STAR (out of 5) hold rating. PETM appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 25 covered call (QPT DE) for a net debit in the $23.46 area. That is also the break even stock price for this trade. This covered call has a 149 day duration, provides 10.83% downside protection and a 6.56% assigned return rate for a 16.08% annualized return rate (comparison purposes only). PetSmart has a current annual dividend yield of 1.54%.