Avery Dennison (AVY) 3/11/10 PriceWatch Alert Could Hit 9.22% Return
Posted: Thursday, March 11, 2010 8:43 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $32.36. So far the stock has hit a 52-week low of $18.13 and 52-week high of $40.23. Avery Dennison stock has been showing support around 31.64 and resistance in the 32.86 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 $29.06 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 10.20% downside protection and a 3.23% assigned return rate for a 9.22% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.55%. [THA-Seven Summits Research]
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