SPDR S&P Metals & Mining ETF (XME) 12/22/09 PriceWatch Alert With Support Around $49.84
Posted: Tuesday, December 22, 2009 8:16 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Metals & Mining ETF (PACF: XME) closed yesterday at $50.78. So far XME has hit a 52-week low of $20.55 and 52-week high of $51.30. XME has been showing support around 49.84 and resistance in the 51.58 range. Technical indicators are Bullish. XME appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Feb '10 50 covered call for a net debit in the $47.58 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 6.30% downside protection and a 5.09% assigned return rate for a 30.94% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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