Vornado Realty Trust (VNO) 11/12/09 PriceWatch Alert With Support Around $63.46
Posted: Thursday, November 12, 2009 8:04 AM EDT
By: Market Intelligence Center Staff
Vornado Realty Trust (NYSE: VNO) closed yesterday at $65.21. 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 63.46 and resistance in the 66.44 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 65 covered call (VNO AM) for a net debit in the $60.41 area. That is also the break even stock price for this trade. This covered call has a 65 day duration, provides 7.36% downside protection and a 7.60% assigned return rate for a 42.67% annualized return rate (comparison purposes only). Vornado Realty Trust does not pay dividends at this time. [THA-Seven Summits Research]
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