Avery Dennison (AVY) 3/16/10 PriceWatch Alert Up To 13.69% Downside Protection
Posted: Tuesday, March 16, 2010 8:06 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) closed yesterday at $33.61. So far the stock has hit a 52-week low of $19.50 and 52-week high of $40.23. Avery Dennison stock has been showing support around 32.84 and resistance in the 34.18 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 $29.01 area. That is also the break even stock price for this trade. This covered call has a 214 day duration, provides 13.69% downside protection and a 3.41% assigned return rate for a 5.82% annualized return rate (comparison purposes only). Avery Dennison has a current annual dividend yield of 2.42%. [ATU-Seven Summits Research]
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