Renaissancere (RNR) 2/9/10 PriceWatch Alert At $48.93 Break Even
Posted: Tuesday, February 09, 2010 8:38 AM EDT
By: Market Intelligence Center Staff
Renaissancere (NYSE: RNR) closed yesterday at $51.43. So far the stock has hit a 52-week low of $39.37 and 52-week high of $57.37. Renaissancere stock has been showing support around 50.78 and resistance in the 52.12 range. Technical indicators for the stock are Bearish and S&P gives RNR a neutral 3 STAR (out of 5) hold rating. RNR appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 50 covered call for a net debit in the $48.93 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 4.86% downside protection and a 2.19% assigned return rate for an 11.91% annualized return rate (comparison purposes only). Renaissancere has a current annual dividend yield of 1.86%. [ATU-Seven Summits Research]
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