Vornado Realty Trust (VNO) 11/3/09 PriceWatch Alert With 8.13% Downside Protection

Posted: Tuesday, November 03, 2009 8:29 AM EDT

Vornado Realty Trust (NYSE: VNO) closed yesterday at $60.24. So far the stock has hit a 52-week low of $27.01 and 52-week high of $75.69. Vornado Realty Trust stock has been showing support around 56.28 and resistance in the 63.28 range. Technical indicators for the stock are Bearish and S&P gives VNO a neutral 3 STAR (out of 5) hold rating. VNO appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 60 covered call (VNO AL) for a net debit in the $55.34 area. That is also the break even stock price for this trade. This covered call has a 74 day duration, provides 8.13% downside protection and an 8.42% assigned return rate for a 41.53% annualized return rate (comparison purposes only). Vornado Realty Trust has a current annual dividend yield of 1.57%. [ATU-Seven Summits Research]

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