Rayonier (RYN) PriceWatch Alert for November 3, 2009
Posted: Tuesday, November 03, 2009 8:12 AM EDT
By: Market Intelligence Center Staff
Rayonier (NYSE: RYN) closed yesterday at $38.93. So far the stock has hit a 52-week low of $22.28 and 52-week high of $45.00. Rayonier stock has been showing support around 37.14 and resistance in the 40.40 range. Technical indicators for the stock are Bearish and S&P gives RYN a neutral 3 STAR (out of 5) hold rating. RYN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 35 covered call (RYN BG) for a net debit in the $33.73 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 13.36% downside protection and a 3.77% assigned return rate for a 12.61% annualized return rate (comparison purposes only). Rayonier has a current annual dividend yield of 5.03%. [ATU-Seven Summits Research]
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