Avery Dennison (AVY) 3/8/10 PriceWatch Alert Could Hit 12.62% Return
Posted: Monday, March 08, 2010 8:41 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) ended the last trading session at $31.15. 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 30.61 and resistance in the 31.53 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 $28.70 area. That is also the break even stock price for this trade. This covered call has a 131 day duration, provides 7.87% downside protection and a 4.53% assigned return rate for a 12.62% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.55%. [ABR-Seven Summits Research]
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