Tsakos Energy Navigation (TNP) 11/10/09 PriceWatch Alert Up To 11.22% Downside Protection
Posted: Tuesday, November 10, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $15.60. 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 14.97 and resistance in the 16.07 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 $13.85 area. That is also the break even stock price for this trade. This covered call has a 221 day duration, provides 11.22% downside protection and an 8.30% assigned return rate for a 13.71% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.98%. [ATU-Seven Summits Research]
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