SPDR S&P Oil & Gas Exploration & Production ETF (XOP) 2/9/10 PriceWatch Alert At $35.72 Break Even
Posted: Tuesday, February 09, 2010 8:07 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Oil & Gas Exploration & Production ETF (PACF: XOP) closed yesterday at $39.22. So far XOP has hit a 52-week low of $23.02 and 52-week high of $44.62. XOP has been showing support around 38.44 and resistance in the 40.38 range. Technical indicators are Bearish. XOP appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '10 39 covered call for a net debit in the $35.72 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 8.92% downside protection and a 9.18% assigned return rate for a 25.78% annualized return rate (comparison purposes only). [ATU-Seven Summits Research]
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