Tsakos Energy Navigation (TNP) 11/16/09 PriceWatch Alert Targets 9.33% Downside Protection
Posted: Monday, November 16, 2009 8:12 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) ended the last trading session at $15.54. 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 14.86 and resistance in the 15.88 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 $14.09 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 9.33% downside protection and a 6.46% assigned return rate for a 19.01% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.90%. [ABR-Seven Summits Research]
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