Market Vectors - Steel ETF (SLX) 2/9/10 PriceWatch Alert Up To 26.75% Return
Posted: Tuesday, February 09, 2010 8:36 AM EDT
By: Market Intelligence Center Staff
Market Vectors - Steel ETF (PACF: SLX) closed yesterday at $53.49. So far SLX has hit a 52-week low of $22.05 and 52-week high of $68.86. SLX has been showing support around 52.06 and resistance in the 56.06 range. Technical indicators are Bearish. SLX appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 53 covered call for a net debit in the $48.39 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 9.53% downside protection and a 9.53% assigned return rate for a 26.75% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
CLICK HERE: FREE Market Vectors Steel Index Fund (SLX) Stock ReportSee what our analysts have uncovered about Market Vectors Steel Index Fund (SLX).