Tsakos Energy Navigation (TNP) 11/13/09 PriceWatch Alert Bearish Price Movement
Posted: Friday, November 13, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $15.22. So far the stock has hit a 52-week low of $12.21 and 52-week high of $23.46. Tsakos Energy Navigation stock has been showing support around 14.83 and resistance in the 15.97 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 $13.47 area. That is also the break even stock price for this trade. This covered call has a 218 day duration, provides 11.50% downside protection and an 11.36% assigned return rate for a 19.02% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.92%. [FBB-Seven Summits Research]
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