Tsakos Energy Navigation (TNP) 11/11/09 PriceWatch Alert With Support Around $14.81
Posted: Wednesday, November 11, 2009 8:14 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $15.30. So far the stock has hit a 52-week low of $12.21 and 52-week high of $24.62. Tsakos Energy Navigation stock has been showing support around 14.81 and resistance in the 15.89 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 Mar '10 15 covered call (TNP CC) for a net debit in the $13.95 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 8.82% downside protection and a 7.53% assigned return rate for a 21.30% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.85%. [WBA-Seven Summits Research]
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