Vornado Realty Trust (VNO) 11/11/09 PriceWatch Alert With Support Around $61.51
Posted: Wednesday, November 11, 2009 8:31 AM EDT
By: Market Intelligence Center Staff
Vornado Realty Trust (NYSE: VNO) closed yesterday at $63.80. So far the stock has hit a 52-week low of $27.01 and 52-week high of $70.23. Vornado Realty Trust stock has been showing support around 61.51 and resistance in the 65.55 range. Technical indicators for the stock are Bullish and S&P gives VNO a neutral 3 STAR (out of 5) hold rating. VNO appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 60 covered call (VNO AL) for a net debit in the $56.90 area. That is also the break even stock price for this trade. This covered call has a 66 day duration, provides 10.82% downside protection and a 5.45% assigned return rate for a 30.13% annualized return rate (comparison purposes only). Vornado Realty Trust does not pay dividends at this time. [WBA-Seven Summits Research]
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