Rydex S&P Equal Weight ETF (RSP) 2/9/10 PriceWatch Alert Targets 6.50% Downside Protection
Posted: Tuesday, February 09, 2010 8:34 AM EDT
By: Market Intelligence Center Staff
Rydex S&P Equal Weight ETF (PACF: RSP) closed yesterday at $37.70. So far RSP has hit a 52-week low of $20.19 and 52-week high of $41.10. RSP has been showing support around 37.29 and resistance in the 38.47 range. Technical indicators are Bearish. RSP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 37 covered call for a net debit in the $35.25 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 6.50% downside protection and a 4.96% assigned return rate for a 13.94% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
CLICK HERE: FREE (RSP) Stock ReportSee what our analysts have uncovered about (RSP).