Rayonier (RYN) 11/20/09 PriceWatch Alert Targets 8.99% Return
Posted: Friday, November 20, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
Rayonier (NYSE: RYN) closed yesterday at $39.49. So far the stock has hit a 52-week low of $22.28 and 52-week high of $45.00. Rayonier stock has been showing support around 38.86 and resistance in the 40.32 range. Technical indicators for the stock are Bearish and S&P gives RYN a neutral 3 STAR (out of 5) hold rating. RYN appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a May '10 35 covered call (RYN EG) for a net debit in the $33.49 area. That is also the break even stock price for this trade. This covered call has an 183 day duration, provides 15.19% downside protection and a 4.51% assigned return rate for an 8.99% annualized return rate (comparison purposes only). Rayonier has a current annual dividend yield of 5.00%. [FBB-Seven Summits Research]
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