Tsakos Energy Navigation (TNP) 11/6/09 PriceWatch Alert Up To 9.28% Downside Protection
Posted: Friday, November 06, 2009 8:21 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $15.09. So far the stock has hit a 52-week low of $12.21 and 52-week high of $25.50. Tsakos Energy Navigation stock has been showing support around 14.52 and resistance in the 15.42 range. Technical indicators for the stock are Bearish and S&P gives TNP a neutral 3 STAR (out of 5) hold rating. TNP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jun '10 15 covered call (TNP FC) for a net debit in the $13.69 area. That is also the break even stock price for this trade. This covered call has a 225 day duration, provides 9.28% downside protection and a 9.57% assigned return rate for a 15.52% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 4.05%. [FBB-Seven Summits Research]
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