Vornado Realty Trust (VNO) 11/17/09 PriceWatch Alert Targets 8.23% Downside Protection
Posted: Tuesday, November 17, 2009 8:38 AM EDT
By: Market Intelligence Center Staff
Vornado Realty Trust (NYSE: VNO) closed yesterday at $66.82. 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 65.01 and resistance in the 68.37 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 Volume Leaders list. For a hedged play on this stock, look at a Jan '10 65 covered call (VNO AM) for a net debit in the $61.32 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 8.23% downside protection and a 6.00% assigned return rate for a 36.51% annualized return rate (comparison purposes only). Vornado Realty Trust does not pay dividends at this time. [ATU-Seven Summits Research]
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