Tsakos Energy Navigation (TNP) 11/19/09 PriceWatch Alert With $14.07 Break Even
Posted: Thursday, November 19, 2009 8:31 AM EDT
By: Market Intelligence Center Staff
Tsakos Energy Navigation (NYSE: TNP) closed yesterday at $16.72. 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 15.78 and resistance in the 17.22 range. Technical indicators for the stock are Bullish 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 $14.07 area. That is also the break even stock price for this trade. This covered call has a 212 day duration, provides 15.85% downside protection and a 6.61% assigned return rate for an 11.38% annualized return rate (comparison purposes only). Tsakos Energy Navigation has a current annual dividend yield of 3.75%. [THA-Seven Summits Research]
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