Avery Dennison (AVY) 3/12/10 PriceWatch Alert With $29.04 Break Even
Posted: Friday, March 12, 2010 8:22 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $33.04. 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 31.68 and resistance in the 33.74 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 an Oct '10 30 covered call for a net debit in the $29.04 area. That is also the break even stock price for this trade. This covered call has a 218 day duration, provides 12.11% downside protection and a 3.31% assigned return rate for a 5.53% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.55%. [FBB-Seven Summits Research]
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