Avery Dennison (AVY) 3/10/10 PriceWatch Alert At $29.07 Break Even
Posted: Wednesday, March 10, 2010 8:34 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $32.07. So far the stock has hit a 52-week low of $17.60 and 52-week high of $40.23. Avery Dennison stock has been showing support around 30.68 and resistance in the 33.00 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 $29.07 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 9.35% downside protection and a 3.20% assigned return rate for a 9.05% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.57%. [WBA-Seven Summits Research]
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