Avery Dennison (AVY) 3/5/10 PriceWatch Alert Down To $28.49 Break Even
Posted: Friday, March 05, 2010 8:34 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $30.79. So far the stock has hit a 52-week low of $17.02 and 52-week high of $40.23. Avery Dennison stock has been showing support around 29.98 and resistance in the 31.26 range. Technical indicators for the stock are Bearish and S&P gives AVY a positive 4 STAR (out of 5) buy rating. AVY appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jul '10 30 covered call for a net debit in the $28.49 area. That is also the break even stock price for this trade. This covered call has a 134 day duration, provides 7.47% downside protection and a 5.30% assigned return rate for a 14.44% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.53%. [FBB-Seven Summits Research]
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