Vornado Realty Trust (VNO) Trading In Wide Support/Resistance Range
Posted: Friday, November 13, 2009 9:09 AM EDT
By: Market Intelligence Center Staff
Vornado Realty Trust (NYSE: VNO) closed yesterday at $64.06. 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 62.83 and resistance in the 66.11 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 $57.16 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 10.77% downside protection and a 4.97% assigned return rate for a 28.34% annualized return rate (comparison purposes only). Vornado Realty Trust does not pay dividends at this time. [FBB-Seven Summits Research]
CLICK HERE: FREE Vornado Realty Trust (VNO) Stock ReportSee what our analysts have uncovered about Vornado Realty Trust (VNO).