Tsakos Energy Navigation (TNP) 2/9/10 PriceWatch Alert Technicals Showing Bearish
Posted: Tuesday, February 09, 2010 8:37 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $15.13. So far the stock has hit a 52-week low of $12.21 and 52-week high of $23.46. Tsakos Energy Navigation stock has been showing support around 14.61 and resistance in the 15.83 range. Technical indicators for the stock are Bearish and S&P gives TNP a neutral 3 STAR (out of 5) hold rating. TNP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jun '10 15 covered call for a net debit in the $13.98 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 7.60% downside protection and a 7.30% assigned return rate for a 20.49% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.85%. [ATU-Seven Summits Research]
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